Today’s Rates

The first thing you’ll want to do if you’re planning on buying a home is to compare mortgage interest rates. If you’re a first-time home buyer and you have questions about what a mortgage rate is and/or how it can impact your purchase, call Blue Spot Home Loans today and we’ll be more than happy to answer your questions. Our team of experts is committed to making the mortgage application process as easy as possible, from start to finish.

Loan Type Rate APR Price

Mortgage Rate: Definition

Simply defined, the mortgage rate is the interest you’ll pay on the loan. There are a number of things that are factored into what the interest rate will be and these things include (but may not be limited to) the yield on the 10-year treasury note, the Federal Reserve, and your FICO score. When you make your monthly payment, a portion will be used to pay down the loan’s balance and another portion will be used to pay the interest that’s owed on the loan.

Factors to consider when choosing a lender

Interest rates can vary from lender to lender, but interest rates aren’t the only thing you’ll want to take into consideration. You’ll want to research the reputation of the lender, if they have the ability to help ensure the lending process goes smoothly, and whether there are other hidden costs and fees that they’re not communicating to you up front.

Interest Rate and Annual Percentage Rate are not one in the same

The interest rate is the rate on the loan—it does not take closing costs into account. The APR, on the other hand includes the interest rate, closing costs and/or closing credits. The APR will give you a more apples-to-apples comparison across different types of loans, if all the costs remain the same.

Call Blue Spot Home Loans today

Regardless as to whether your buying your first, third, or tenth property, Blue Spot Home Loans is here to help. Call today to learn more about our competitive low mortgage rates.

General Disclosures



The rates below are current as of today available through Blue Star Home Loan’s online division.

Remember: mortgage rates can vary from state to state and they’re subject to change without notice. Select a product from the below list to view important information about disclosures, payments and assumptions.