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Today is Wednesday, January 28, 2009. Here are today’s mortgage rates from Quicken Loans.

Mortgage rates still remain low across the board this morning. There are several factors that determine which mortgage rate you’ll qualify for, but here are some general rates for Wednesday, January 28, 2009 (as of 1:00 pm) that can get you started. Check out the rates below for their respective home loan programs, then see a short explanation of the assumptions we make to give you these rates. The assumptions may not apply to everyone and are merely a way for us to offer rates based on a specific situation.

Remember, many factors affect the mortgage rate you may qualify for, including credit score, income, debt, and home value.

Mortgage rates on a typical $240,000 home loan (for a $300,000 home with a 20% down payment of $60,000) from Quicken Loans for January 27, 2009 as of 1:00 pm ET are as follows:

• 30-Year Fixed
  • Monthly Mortgage Payment (includes taxes and insurance) – $1,492
  • Mortgage Rate – 4.625%
  • APR – 4.825%
  • Points – 1.875
• 30-Year VA Loan
  • Monthly Mortgage Payment (includes taxes and insurance) – $1,563
  • Mortgage Rate – 5.00%
  • APR – 5.215%
  • Points – 2
• FHA Express
  • Monthly Mortgage Payment (includes taxes and insurance) – $1,668
  • Mortgage Rate – 5.00%
  • APR – 5.204%
  • Points – 1.875
• 15-Year Fixed
  • Monthly Mortgage Payment (includes taxes and insurance) – $2,064
  • Mortgage Rate – 4.25%
  • APR – 4.576
  • Points – 1.75

For these rates, we make a few assumptions, including: Mortgage rates could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Lending services may not be available in all areas. Some restrictions may apply. Based on the purchase/refinance of a primary residence. We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720. The lock period for your rate is 45 days. If LTV > 80% PMI will be added to your monthly mortgage payment.

Please remember that we don’t have all your information that we might need to give you an actual mortgage rate that you can qualify for and lock. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Quicken Loans offers over a hundred loan products. You may still qualify for a loan even if your situation doesn’t match our assumptions.

Those are our rates for this Wednesday. If you like what you see, there’s more where that came from. You can get more accurate results that are customized with your specific information by talking with a Quicken Loans mortgage banker directly. Just give us a call at {PHONE} and we can give you the exact rate and payment based on your info. Or check back this evening for more mortgage rates from Quicken Loans.

Happy Wednesday. And if you’re in the midwest, stay warm and drive safely!

Related Info

• Get today’s mortgage rates for Wednesday January 28th, 2009 based on your specific information.
• Find out which home loan option is right for you, from 30-year fixed to FHA loans to VA loans.
• Learn more about the 30-year fixed-rate mortgage, and why it’s our top-selling home loan.

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