Filo Mortgage Introduces 15 Years Rate 1.99%

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Filo Mortgage announced that it will begin offering a 1.99% mortgage rate with no points and no loan fees on 15-year conventional purchase loans.

To qualify for the 1.99% no-points rate, borrowers need a credit rating above 680, an initial payment of at least 20%, and a loan amount of more than $ 200,000. Filo Mortgage offers qualified applicants a loan rate of 2.625% (2.625% per annum) on a regular 30-year basis with no credits or processing fees.

“If you buy a house and use one of the big banks for a mortgage, you may be paying too much on the loan. Large companies with conventional branches have a larger cost structure and tend to pass these costs onto borrowers in the form of higher mortgage rates and commissions, ”said Jeffrey Frutkin, founder and co-CEO of Filo Mortgage. “It’s worth getting a second or third quote to see if you can get the best price. Even a small change in the rate can lead to savings of thousands of dollars over the life of the loan. ”

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