While GMAC may not quite be on par with the nation’s leading lenders today in terms of the lowest mortgage rates to be found, both home purchase and refinance arms are offering superb deals for those able to qualify for the lowest rates of all.
The benchmark 30 year home purchase loan interest rates at GMAC Mortgage are being offered for 3.625% today yielding an APR of 3.661%. The VA version of the 30 year loans stand at 3.250% yielding an APR of 3.523%.
The short term 15 year fixed rate mortgages at the bank are coming out at 3.000% today yielding an APR of 3.047%.
As far as ARMs go, 5 year interest rates at GMAC are coming out at 3.000% yielding an APR of 3.183% at the beginning of the loan. Jumbo ARM loans in the 5 year category can be had for 3.250% yielding an APR of 3.183% to start.
The benchmark 30 year refinance fixed rate loans are on the books at 3.500% at GMAC carrying an APR of 3.577%. The VA version of the 30 year refi fixed rate mortgages are 3.250% with an APR of 3.556%. Shorter term, popular 15 year refi loan deals are available starting at 3.000% at the bank and APR of 3.121%.
The 5 year refinance ARM interest rates stand at 3.000% at GMAC with an APR of 3.124% to start. 5 year refi Jumbo Adjustable Rate Mortgages are 3.000% with an APR of 3.096%.