Property Q&A in Chicago>Question Details

Tanni Wong, Real Estate Pro in CHICAGO, IL

What is the current intereat rate for applying a mortgage for 15/30 years for coventional loan?

Asked by Tanni Wong, CHICAGO, IL Sat Feb 9, 2013

Help the community by answering this question:


The 15 year has been averaging 2.875% while the 30 year is hitting at 3.5%.
However these rates are just a basic guideline. There are several factors that could increase the rate - such as credit score, property type, and the amount of equity in the subject property. I you would like a competitive quote please feel free to contact me at anytime.
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
1 vote Thank Flag Link Sat Feb 9, 2013
Please see the following:

"Today's Purchase Rates:

30 FIX - 3.750%
15 FIX - 2.990%
7 YR ARM - 3.375%
5 YR ARM - 2.625%

30 FIX JUMBO - 3.875%
15 FIX JUMBO - 3.250%
7 YR ARM JUMBO 2.875% - compare this with the conventional 7 ARM rate, way lower!
5 YR ARM JUMBO 2.500%

- Anthony

Anthony J Marinaccio | Senior Vice President Residential Mortgage Lending | Key Mortgage Services Inc.

737 North Michigan Avenue, Suite 1800 - Chicago, Illinois 60611

Direct (312) 981-2373 | Cell (630) 774-8737 | eFax (312) 592-7714 |

NMLS - 211587"

This was published in-house, here at Baird & Warner about 24 hours ago. However, interest rates are continually changing. So, make sure to apply, when you find the right quote (assuming that you're credit is in good shape, and your debts are paid down, because these things will affect the rate that you are quoted as an individual, or married couple/household).

When you're ready to purchase, tour our site to locate your dream home: , and feel free to contact me if you have any additional questions:

Angela Bailey
0 votes Thank Flag Link Sat Feb 9, 2013

I really trust the guys at Guaranteed Rate, I recommend them to all my clients for mortgage advice and loans.
0 votes Thank Flag Link Sat Feb 9, 2013

The rate you can acquire is based on your Credit Scores, Equity in the Home, and your Income (do you earn enough for the new loan + other debts).

Also don't forget to ask what are the costs in obtaining a certain rate.

At present 30 Yr is in the mid 3%'s and 15 yr just below 3%.

Should you need any assistance, feel free to contact me.
Web Reference:
0 votes Thank Flag Link Sat Feb 9, 2013
I would call a lender and ask. A lot of things will make it change. In order to be accurate, its best just to ask the lender directly.
0 votes Thank Flag Link Sat Feb 9, 2013
As a former lender I can tell you that rates will depend on multiple factors and varies with every banking institution. Think of it this way, lenders are investing money into you, how high your rate is will depend on how risky of an investment you are. We can recommend a group of professionals that are responsive and will provide you with the best service available if you wish. Please feel free to call me at 773-627-7608. Good luck

Jorge Vega
Newman Realty Group
0 votes Thank Flag Link Sat Feb 9, 2013
Hello Tanni,

The best mortgage advice will come from a true Mortgage Banker. I'd be more than happy to help. Don't the rates on the window convince you. It all depends on your credit/down payment and propery type. I will give you a free credit analysis and pre-approval. Just visit my webstie and click APPLY NOW.

Cal me anytime!

Alexander Romo
Senior Vice President - Mortgage Lending
The Federal Savings Bank
direct: 312-38-8430
efax: 312-628-8311
0 votes Thank Flag Link Sat Feb 9, 2013

It will depend on the type of property, loan amout and your credit.

Conforming Loans - loan amounts up to $417,000 (single unit properties)
30 Yr Fixed Conforming 3.500% 3.526%
15 Yr Fixed Conforming 2.875% 2.921%

Call or email me for some lender recommendations.

Best regards,

Ivan Sagel
0 votes Thank Flag Link Sat Feb 9, 2013
My web site has some lender references. Give them a call.
0 votes Thank Flag Link Sat Feb 9, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer