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Current Refinance Mortgage Rates:

Today's Rates
5-Year ARM 2.99%Future Adjustments (3.058% APR)
30-Year Fixed 3.99% (4.23% APR)
15-Year Fixed 3.125% (3.524% APR)
30-Year VA Loan 3.50% (3.816% APR)
5-Year VA ARM 2.75%Future Adjustments (2.575% APR)
Find Out How Much You Can Save by Refinancing!

Rates last updated: 05:17PM (EDT) on 10/23/2014.

Adjustable Rate Mortgage Future Adjustments

With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of reset.

Adjustable Rate Mortgage (ARM) Info
Lifetime rate cap 5.0%
Yearly adjustment cap 2.0%
First year rate cap 2.0%
ARM index 0.547%
ARM margin 2.25%
Potential interest rate after 5 years Est. 2.875%
Potential monthly payment after 5 years Est. $820.13

Adjustable-Rate Mortgage: The initial payment on a 30-year $200,000 5-year Adjustable-Rate Loan at 2.99% and 70% loan-to-value (LTV) is $842.13 with 2 points due at closing. The Annual Percentage Rate (APR) is 3.058%. After the initial 5 years, the principal and interest payment is $820.13. The fully indexed rate of 2.875% is in effect for the remaining 25 years and can change once every year for the remaining life of the loan. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rate is variable and subject to change after 5 years.

Adjustable Rate Mortgage Future Adjustments

With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of reset.

Adjustable Rate Mortgage (ARM) Info
Lifetime rate cap 5.0%
Yearly adjustment cap 1.0%
First year rate cap 1.0%
ARM index 0.1%
ARM margin 2%
Potential interest rate after 5 years Est. 2.125%
Potential monthly payment after 5 years Est. $777.37

VA Adjustable-Rate Mortgage: The payment on a 30-year $204,300 5-year VA Adjustable-Rate Loan at 2.75% and 70% loan-to-value (LTV) is $834.04 with 1 points due at closing. After 5 years, the principal and interest is $777.37. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. VA loans do not require PMI. The Annual Percentage Rate (APR) is 2.575%. Rate is variable and may increase after fixed rate period.

"Highest in Customer Satisfaction for Primary Mortgage Origination" in the U.S., Four Years in a Row.

J.D. Power

Click to see our assumptions.
  • 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.
  • Some jumbo products may not be available to first time home buyers.
  • Lending services may not be available in all areas.
  • Some restrictions may apply.
  • Based on the purchase/refinance of a primary residence with no cash out at closing.
  • 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, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
  • The lock period for your rate is 45 days.
  • The loan to value (LTV) ratio is 70%. If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
  • Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Quicken Loans offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (800) 251-9080 to talk to one of our mortgage experts.
  • Adjustable-Rate Mortgage: The initial payment on a 30-year $200,000 5-year Adjustable-Rate Loan at 2.99% and 70% loan-to-value (LTV) is $842.13 with 2 points due at closing. The Annual Percentage Rate (APR) is 3.058%. After the initial 5 years, the principal and interest payment is $820.13. The fully indexed rate of 2.875% is in effect for the remaining 25 years and can change once every year for the remaining life of the loan. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rate is variable and subject to change after 5 years.

  • 30-Year Fixed-Rate Mortgage: The payment on a $200,000 30-year Fixed-Rate Loan at 3.99% and 70% loan-to-value (LTV) is $953.68 with 2 points due at closing. The Annual Percentage Rate (APR) is 4.23%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.

  • 15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at 3.125% and 70% loan-to-value (LTV) is $1393.22 with 1.875 points due at closing. The Annual Percentage Rate (APR) is 3.524%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.

  • 30-year Fixed-Rate VA Loan: Rate is fixed. The payment on a $204,300, 30-year fixed-rate loan at 3.50% and 70% loan-to-value (LTV) is $917.4 with 1.75 Points due at closing. The Annual Percentage Rate (APR) is 3.816%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

  • VA Adjustable-Rate Mortgage: The payment on a 30-year $204,300 5-year VA Adjustable-Rate Loan at 2.75% and 70% loan-to-value (LTV) is $834.04 with 1 points due at closing. After 5 years, the principal and interest is $777.37. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. VA loans do not require PMI. The Annual Percentage Rate (APR) is 2.575%. Rate is variable and may increase after fixed rate period.

J.D. Power disclaimer
  • Quicken Loans received the highest numerical score in the proprietary J.D. Power 2010-2013 Primary Mortgage Origination StudiesSM. 2013 study based on 3,267 total responses measuring 13 lenders and measures opinions of consumers who origination a new mortgage. Proprietary study results are based on experiences and perceptions of consumers surveyed in July - August 2013. Your experiences may vary. Visit jdpower.com.