Buying a new home is an exciting experience. However, getting a mortgage loan can be stressful. Therefore, you want to make sure you find a lender that will make the process as easy as possible. Stonegate Mortgage is a company that provides home loans with the lowest rate possible. Stonegate Mortgage rates can be fixed or adjustable. This article will provide you with the current and most up-to-date information about mortgage rates.

Stonegate Mortgage Current Mortgage Rates

Since mortgage rates change frequently, it is important to keep checking until you get a good rate on your mortgage. You can find the latest mortgage rates on their website. The table below will give you the most recent mortgage rates.

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate) (Annual Percentage Rate) Estimated Monthly Payment
30-year fixed 4.25% 4.32% $1097.64
20-year fixed 3.62% 3.88% $1499.19
15-year fixed 3.50% 3.61% $1800.74
7/1 ARM 3.25% 4.05% $1200.76
5/1 ARM 2.87% 4.06% $1202.20

***Mortgage rates can fluctuate frequently, so you need to check back for the latest information about mortgage rates.

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Stonegate Mortgage Rates Additional Information

You can easily apply for a mortgage with Stonegate online. You will have the choice of getting a fixed rate or an adjustable rate loan. Fixed-mortgage rates will remain the same throughout the loan. You can normally get a 30, 20, or 15 year home mortgage loan. 30-year mortgage rates will be slightly higher. However, your monthly payment amount will be lower. With 20-year mortgage rates and 15-year mortgage rates, your monthly payment amount will be higher. Still, you will save quite a bit of money on interest throughout the life of the loan.

If you plan to live in your home short-term or if you get a higher interest rate than you would like, you might choose an adjustable rate mortgage. With this loan, your rate will start off fixed for a few years. It will then increase or decrease depending on the mortgage rates trend. If your rate increases significantly, you might have the option of refinancing to get a lower rate.

Refinance mortgage rates can help you obtain a lower interest rate, lower your monthly payment, or lower the life of the loan. You need to research to make sure refinancing will actually save you money.

If you are purchasing a more expensive home, you can obtain a jumbo mortgage. Jumbo mortgage rates will allow you to buy a home that is more costly, normally more than $417,000. To qualify for these loans, you will need excellent credit and a good credit history.

If you wish to purchase mortgage rates, you can get a lower interest rate. This will save you money over time. Before applying for a loan, it is a good idea to get pre-qualified for the loan. You need to know exactly how much you can afford.

Monthly Mortgage Payment Example

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 4.25% 3.62% 3.50%
APR (Annual Percentage Rate) 4.32% 3.88% 3.61%
Number of Payments 360 240 180
Average Monthly Payment $1240.12 $1499.19 $1800.74
Total Amount of Interest $196,444.81 $109,805.51 $74,133.47
Total Amount Paid $446,444.81 $359,805.51 $324,133.47

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

Stonegate mortgage rates are competitive, so you can be confident that you are getting a good rate. The company offers quality customer service. You can pay online easily. You can then obtain a home loan, and you can move into your dream house.