Can I get a 1% fixed rate for 5 years mortgage loan for a new purchase?

I am not aware of any 1% fixed rates in the nation. The 1% rates being advertised are option arm loans, which are total crap %26amp; very dangerous.

Check out bankrate.com for the rates in your area.

good luck!

Can I get a 1% fixed rate for 5 years mortgage loan for a new purchase?

the only way this would work is an option arm, with a start rate of 1.25%, and this is something I would not recomend. it just takes too long to explain.

Can I get a 1% fixed rate for 5 years mortgage loan for a new purchase?

Nope. That's a nominal, or %26quot;in name only%26quot; rate. The real rate on that loan will be somewhere above 7.5%, and month to month variable. You loan balance will increase every month by the difference.

Lots more explanation here

http://www.searchlightcrusade.net/posts/...

The lowest actual rate I'm seeing offered on a 30 year fixed right now is 5.5 - and that takes 3 points. On a 5/1 ARM, it's 5.25

Can I get a 1% fixed rate for 5 years mortgage loan for a new purchase?

You can get the 1% rate on a purchase. It is an option arm. Read about them on my website.

They are good for some people.

Matt

http://www.diversifiedlender.com/

http://www.minnesota-mortgage-rates.net/

Can I get a 1% fixed rate for 5 years mortgage loan for a new purchase?

yes but you need to put at least 10% down