Today we went back and took a look at Ditech mortgage rates for the second time in a month. Last month we investigated Ditech mortgage rates and in particular the Ditech refi rate sale and found them to be very competitive if not the best of the big companies offering mortgages.
Ditech Mortgage Refinance Rate
Today's Ditech refinance mortgage rate, per the Ditech refi rate sale home page, is 4.875 percent with an APR of 5.084 percent, fixed for 30-years. On a $200,000 mortgage the payment is $1,270/mo principal and interest. 4.875 percent is as competitive as you'll find in the mortgage marketplace. The points being charged, 1.9 origination points under the terms of the refi rate sale, could be a tad lower but considering the rate is rock bottom it's still a good deal. Typically if you get the best rate with 1 or less origination points charged it's considered to be a great deal.
What we don't like is the "lock in fee". Ditech doesn't offer any specifics of the amount of the fee to lock the rate but it sounds like an upfront fee which should always be avoided when obtaining a mortgage.
Ditech Jumbo Mortgage Rate
Ditech currently says a 5/1 ARM (adjustable rate mortgage) with an interest rate of 4.375 percent can be obtained with an APR of 3.92 percent with 2.025 origination points being charged.
Ditech Purchase 30-year fixed Loan Rate
Want to buy a home with a Ditech mortgage? On a 30-year fixed-rate mortgage Ditech says a 5.125 percent rate comes with 1.4 origination points. The APR is stated as 5.291 percent. These terms are assuming a 20 percent down payment.
Want to buy a home with less money down? Ditech has FHA loans as well. Ditech says a 30-year fixed-rate FHA purchase loan with only 5 percent down can be obtained at 5 percent with an APR of 5.742. This rate of 5 percent for an FHA purchase loan includes a 2.3 percent discount also known as buy down points.
Source:ditech.com
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