Mortgage Rates

Home Purchase Rates

Fixed Rate LoansRates Effective: 5/25/2022

Program Name Rate APR* Monthly Payment
15 Year Fixed4.125%4.344%$1305.44
20 Year Fixed4.750%4.927%$1130.89
30 Year Fixed5.000%5.132%$939.44
30 Year Fixed - 1% Down Program5.125%5.170%$952.85
30 Year Fixed Jumbo5.125%5.170%$3523.92
30 Year Fixed - Second Home5.875%6.017%$1035.19
Land Loan - 15 Year8.740%9.013%$1748

Adjustable Rate Mortgage (ARM)Rates Effective: 5/25/2022

Program Name Rate APR* Monthly Payment
10/1 ARM4.625%4.217%$899.74
7/1 ARM4.125%3.960%$848.14
5/1 ARM3.750%3.841%$810.45
10/1 ARM Jumbo4.750%4.224%$3376.1

Government LoansRates Effective: 5/25/2022

Program Name Rate APR* Monthly Payment
30 Year Federal Housing Administration (FHA)5.875%6.977%$1035.19
Veterans Administration (VA)5.875%6.160%$1035.19

 

Home Refinance Rates

Home RefinanceRates Effective: 5/25/2022

Program Name Rate APR* Monthly Payment
10/1 ARM Refi - Max $1,000⁺ Closing Costs4.625%4.108%$899.74
7/1 ARM Refi - Max $1,000⁺ Closing Costs4.125%3.852%$848.14
5/1 ARM Refi - Max $1,000⁺ Closing Costs3.750%3.734%$810.45
10/1 ARM Jumbo Refi - Max $1,000⁺ Closing Costs4.750%4.148%$3376.1
15 Year Fixed Jumbo Refi - Max $1,000⁺ Closing Costs4.250%4.270%$4868.75
15 Year Fixed Refi - Max $1,000⁺ Closing Costs4.125%4.150%$1305.44
15 Year Fixed Refi4.125%4.344%$1305.44
20 Year Fixed Refi4.750%4.927%$1130.89
30 Year Fixed Refi5.000%5.132%$939.44
30 Year Fixed Refi Jumbo5.125%5.170%$3523.92

*APR = Annual Percentage Rate and monthly payment examples assumes an 80% Loan-to-Value, 740 credit score, and purchase or no cash out refinance. Monthly Principal & interest payment based on loan amount of $175,000 and $647,200 for jumbo loans. Payment estimates do not include taxes and insurance; actual payments may be higher. Maximum loan amount is $1,500,000. Minimum loan amount is $15,000. Property insurance is required. Residential properties only located in all states. If the loan does not close, the cost of the appraisal will not be refunded. The stated rates are the lowest available and subject to change at any time without notice. Rates are based on credit history, loan-to-value, occupancy, and other factors so your rate may different.
Adjustable Rate Mortgages (ARM) loans have a variable rate therefore the APR may increase after consummation. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

+APR = Annual Percentage Rate and monthly payment examples assumes an 80% Loan-to-Value, and 700 credit score. Monthly Principal & interest payment based on loan amount of $175,000 and $647,200 for jumbo loans. Payment estimates do not include taxes and insurance; actual payments may be higher. Minimum Loan amount is $15,000 and Maximum loan amount is $1,500,000. A minimum of $10,000 must be new money at SPIRE. Property must be the primary or secondary residence and property insurance is required. Residential properties located MN and WI. Change in fee ownership, manufactured homes, commercial, agriculture and large acreage properties excluded from offer. SPIRE member responsible to pay up to $1,000 toward closing costs. If the loan does not close, the cost of the appraisal will not be refunded. SPIRE will pay closing costs in excess of $1,000 and does not include property taxes, home owner’s insurance, prepaid interest, and fee for a potential subordination agreement. Offer subject to termination at any time. The stated rates are the lowest available and subject to change at any time without notice. Rates are based on credit history, loan-to-value, and other factors so your rate may different. Adjustable Rate Mortgages (ARM) loans have a variable rate therefore the APR may increase after consummation. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

Investment PropertiesRates Effective: 5/25/2022

APR^
10/1 ARM4.875
7/1 ARM4.625
5/1 ARM4.375

^APR = Annual Percentage Rate. Limited to 3 properties per owner. Property must be an investment property located in MN. SPIRE member responsible to pay $1,000 toward closing costs, which includes the cost of the required appraisal. If the loan does not close, the cost of the appraisal will not be refunded. SPIRE will pay closing costs in excess of $1,000. Offer subject to termination at any time. The stated rates are the lowest available and subject to change at any time without notice. Rates are based on credit history, loan-to-value, and other factors so your rate may different. Borrower must meet membership requirements to qualify. Other restrictions may apply. See your tax advisor for details regarding interest deductibility.

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