Washington District of Columbia Home Mortgage
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District of Columbia Mortgage
PRODUCT +/- Rate Last week
30 year fixed Graph Icon Arrow 4.09% 4.16%
15 year fixed Graph Icon Arrow 3.25% 3.30%
5/1 ARM Graph Icon Arrow 3.28% 3.36%

 Rate disclaimer

PRODUCT +/- Rate Last week
30 year fixed refi Graph Icon Arrow 4.09% 4.17%
15 year fixed refi Graph Icon Arrow 3.25% 3.34%
10 year fixed refi Graph Icon Arrow 3.15% 3.18%
PRODUCT +/- Rate Last week
60 month used car loan Graph Icon Arrow 3.20% 3.20%
48 month used car loan Graph Icon Arrow 3.18% 3.19%
60 month new car loan Graph Icon Arrow 3.44% 3.44%
PRODUCT +/- Yield Last week
6 Month CD Graph Icon Arrow 0.75% 0.71%
1 Year CD Graph Icon Arrow 1.24% 1.24%
2 Year CD Graph Icon Arrow 1.41% 1.41%
MMA and SAVINGS 0.58%
$10k MMA 0.57%
Interest Checking 0.43%

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You can search our directory or Mortage Brokers & Lenders and get a current quote on 30 year fixed mortgage rates as well as current mortgage interest rate for other loan programs.

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Variable Rate Mortgages for Washington, District of Columbia

Also known as ‘the District’ and lovingly referred to as D.C., Washington calls many prospective home owners its residents. These are people who are desperate to locate mortgages that can allow them to sustain their comfortable lifestyle or those that can generate enough funds that can be used as additional income. Many ultimately opt for a variable rate mortgage due to its flexible nature. If you are one of them, then there are a few things you need to know:

What is a Variable Rate Mortgage?

Also referred to as an ARM or adjustable rate mortgage or a floating rate mortgage, this is a loan in which the interest rate is changeable. In case of variations, the monthly imbursement amount is altered according to the new interest rate. Typically, these rates are susceptible to change as time goes by.

Why VRMs?

Burgeoning home prices have made variable rate mortgages a popular choice among home buyers. Many are tired of seeing their traditional refinancing efforts go down the drain as they try to cover the cost of their new property. However, with VRMs, you can avail lower mortgage rates and reduce your monthly mortgage payments considerably.

Applying for one of these loans is also preferable compared with other pricier loans. When interest rates are high, this characteristic increases in value; lower payments allow buyers like you to look for expensive properties you might not be able to afford otherwise. Additionally, since variable rate mortgage has a set payment schedule, its interest rate will still remain effective as compared to one that is available for a fixed rate mortgage. However, after the period has elapsed, the rate of interest might change according to current market rates.

In a nutshell, variable rate mortgages can fit almost any budget home owners might have due to their malleable nature. Besides this, other mortgage options are also available at where borrowers meet potential lenders and brokers to aid them with their particular loan issues such as mortgage rates, refinancing, home loan choices etc. Our mortgage calculators are just the icing on the cake.





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