Delaware Mortgage Rates
Check Current Mortgage Rates
DELAWARE CONFORMING 30 YEAR FIXED RATESToday's Average: 4.21% What does this mean?
About Mortgage Rates in Delaware
Home buyers in Delaware, from Dover, Newark to Wilmington are all searching for the best possible mortgage package. With more than 389K housing units available and 72% of them owner occupied, you want to ensure you find the lowest interest rate, lowest monthly payment and cheapest closing costs.
Mortgage 101 can help you secure a loan, whether it is for first time home buyers, bad credit, second mortgages, or refinance loans; we have a package that will meet your needs. You can use the online tools to determine how much of a loan you can afford, calculate your mortgage payment and even determine your tax benefits.
The 5/5 & 5/1 Adjustable Rate Mortgage
This mortgage type offers a stable payment and interest rate for the first five years. In the sixth year the interest rates, and therefore the payments, are adjusted every five years for the 5/5 arm and every year for the 5/1 arm.
Fixed Rate Mortgage
Fixed Rate Mortgages in Delaware
This is your parent's mortgage loan. The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the original borrower.
Other Mortgage Terms
Origination Fee - The fee charged by a lender to prepare loan documents make credit checks inspect and sometimes appraise a property; usually computed as a percentage of the face value of the loan.
Mortgage Insurance - Money paid to insure the mortgage when the down payment is less than 20 percent.
Annual Percentage Rate (APR) - The measurement of the full cost of a loan including interest and loan fees expressed as a yearly percentage rate. Because all lenders apply the same rules in calculating the annual percentage rate it provides consumers with a good basis for comparing the cost of different loans.
Closing Costs - Expenses over and above the price of the property that are incurred by buyers and sellers when transferring ownership of a property. Closing costs normally include an origination fee property taxes charges for title insurance and escrow costs appraisal fees etc. Closing costs will vary according to the area country and the lenders used.