Atlanta Mortgage Rates Survey – January 6-8, 2012

Written by: Scott Sery

Atlanta Mortgage Rates Survey – January 6-8, 2012

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, most of the Atlanta area banks offered rates around 4%.  Wells Fargo (www.wellsfargo.com) offered the best rates on 30-year fixed -rate conforming loans in the Atlanta metro area for well-qualified borrowers at 3.75%.  SunTrust Bank (www.suntrust.com) was just slightly higher at 3.88%.  Bank of America (www.bankofamerican.com) offered the highest rates, at 4.38%.

After finding what seems to be the perfect house a person will start to rush through the application process.  But people are very often denied for loans.  The reason is either their credit score is too low, or they are trying to finance a loan that is too big for their income.  There are steps that can be taken in either scenario, but often it takes a little bit of time to get there.  For a score that is too low the best thing to do is make regular, on-time payments for all existing credit.  A person may need to open a credit card, charge a small amount, and then pay it off in full every month.  After a year, perhaps two, their score will be up to where the bank will be willing to give them a loan.

Top Atlanta Area Banks and Credit Unions

As of

30-year Fixed

15-year Fixed

5/1 ARM

Wells Fargo

01/08/12

3.75%

3.25%

2.13%

SunTrust Bank

01/06/12

3.88%

3.13%

2.50%

Regions Bank

01/06/12

3.99%

3.31%

2.96%

JP Morgan Chase

01/09/12

4.00%

3.25%

2.63%

Synovus

01/06/12

4.22%

6.91%

NA

Branch Banking and Trust

01/06/12

4.31%

3.35%

NA

Bank of America

01/06/12

4.38%

3.63%

3.13%

 

Listed rates from banks, thrifts and credit union were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates.


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Atlanta Mortgage Rates Survey – January 6-8,...

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