Central Mortgage Company offers financial services to people mainly in Arkansas, Oklahoma, Missouri, and Kansas. The company provides residential loans to consumers. Central Mortgage Company is highly recognized as a reliable lender for your mortgage needs. The company offers fixed rate mortgages and adjustable rate mortgages. There are also several types of loans to choose from. One of the most important things to consider when getting a mortgage is the interest rate. You want to obtain the lowest Central Mortgage Company mortgage rates available, which will save you money. This article will provide useful and current mortgage information.

Central Mortgage Company Current Mortgage Rates

Central Mortgage company can offer you low rates on a mortgage loan. You can look at the current mortgage rates on this website. The table below will give you information about the latest rates.

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate) (Annual Percentage Rate) Estimated Monthly Payment
30-year fixed 3.25% 3.90% $1179.17
20-year fixed 3.50% 3.75% $1482.22
15-year fixed 2.87% 3.13% $1742.13
7/1 ARM 3.62% 3.95% $1186.34
5/1 ARM 2.87% 3.56% $1131.00

***Central Mortgage Company home mortgage rates can change at any time. Therefore, check the website for the latest information about mortgage rates.

Bonus read – PennyMac Mortgage Rates

Central Mortgage Company Mortgage Rates Additional Information

With the Central Mortgage Company, you can choose from a fixed-rate mortgage or an adjustable-rate mortgage. Fixed mortgage rates can usually be for 30 years, 20 years, or 15 years. 15-year mortgage rates will usually be lower than 30-year mortgage rates or 20-year mortgage rates.

A 30-year mortgage is the most popular type of mortgage, mainly because the monthly payment amount will be lower. The lower the life of the loan, the more money you will save. Home mortgage rates could be lower if you purchase mortgage rates.
You also have the option of an adjustable rate mortgage. With these mortgages, your rate will change after an initial period, depending on the mortgage rates trend. Therefore, this is a good option for people who do not get the best interest rate or for people who are only staying in the home temporarily. Moreover, if the interest mortgage rate increases, you want to make sure you have the money to make the payments.

You can also refinance your mortgage. Central Mortgage Company offers refinance mortgage rates that will give you the opportunity to lower the life of the loan, lower the interest rate, or lower the monthly payment amount.

If you need a larger loan, jumbo mortgage rates will allow you to purchase a home above $417,000. The requirements of this type of loan are stricter. However, if you have good credit and a good credit history, you might qualify for this loan.

You will want to use a mortgage rates calculator to determine how much your monthly payment amount will be. A mortgage rates calculator can be found on this website. You will then make sure you do not go over what you can afford.

Type of Mortgage Rate 30-year fixed rate 20-year fixed rate 15-year fixed rate
Mortgage Amount $250,000 $250,000 $250,000
Interest Rate 3.25% 3.50% 2.87%
APR (Annual Percentage Rate) 3.90% 3.75% 3.13%
Number of Payments 360 240 180
Average Monthly Payment $1179.17 $1482.22 $1742.13
Total Amount of Interest $158,675 $105,722.99 $63,583.00
Total Amount Paid $408,675 $355,722.99 $313,583.00

***The values in this table are approximate results of our calculations and can vary based on the type of credit you opt for. Also, please note that these are our examples and not offered by the financial institution.

Central Mortgage Company mortgage rates will provide you the opportunity to own a new home. Therefore, research the mortgage rates trends to see when the rates are the lowest. You can then apply for a mortgage loan, and you can own the home of your dreams.