Philadelphia Mortgage Rates

Here at Philadelphia Mortgage Rates, we’re always on the lookout for the best Philly mortgage rates available.  For anyone who’s doing any kind of Philadelphia home buying, keeping up with the current rates is important.

For our hunt today, we’re assuming an excellent credit rating (700+), up to 20% in cash for down payment, cash on hand for fees, and a home that will be a primary residence and is valued at current market averages.

The best rates are currently to be found at Beneficial Bank.  Philly mortgage rates there are as low as 4.625% (4.652% APR) and fees are very low at $500 with no points and a 60-day rate lock-in option.  That’s some of the best Philadelphia mortgage rates we’ve seen in a while.

TD Bank also has a good offer at 4.875% (4.899% APR) with no points, a 60-day lock in period, and fees of only $433.  Another great offer.

Both Aurora Bank and Sovereign Bank have a 4.875% offer, but Sovereign’s APR is lower at 4.927% with a lower fee of $950 (no points, 60-day lock).  Aurora’s APR is 4.945% with $1,276 in fees and only a 30-day lock-in period.  Neither have points added.

Finally, we see AmeriSave at 5.00% (or 5.032% APR) with no points and a 30-day lock-in period.  Fees are low at $585 and this lender will give this rate even with worse credit scores than our optimum.  Closing can be as fast as ten days.

All of these banks are Equal Housing Opportunity Lenders and also offer FHA and other loan options.  Rates are variable, of course, but these are some of the best Philly mortgage rates we’ve seen in a long time.