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motusbank Mortgage Rates

MotusBank has a lot to offer consumers. The bank is accessible online and it’s very easy to use. If you are in the market for a home and you’re a digital consumer, Motus Bank makes a lot of sense because you can use your smartphone while you are banking. You will also get competitive mortgage rates when working with MotusBank and you don’t have the hassles that you do when you deal with a regular bank.

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MotusBank Mortgage Rates

On their variable close terms which range from one to five years and the fixed rate, it offers competitive conventional rates as it’s either.it is either tied for the lowest or the lowest of the national lenders for 1- to 5-year mortgage rates. You may be able to find a better bargain elsewhere but the rate offered to by MotusBank is quite attractive and you have the bonus option of being able to do everything online in the country, MotusBank currently has the best HELOC or Home Equity Line of Credit in the country which is at 3.75%.

This is prime minus 0.20% and no other national lender can offer this prime rate on home equity lines of credit. The bank plans to keep this rate for the near future according to Dave Baldarelli, the COO.

The rates offered MotusBank are meant to be competitive within the industry and while the rates may rise in the future, right now they are extremely attractive for those looking for a mortgage.

About motusbank Mortgage:

  • You can make at 20% per year lump sum prepayment and you can make this in installments if you prefer
  • There is a 20% per year payment increase option
  • Offers excellent payment frequencies at weekly, bi-weekly, semimonthly, monthly, or you can have an accelerated bi-weekly or weekly payment
  • You have a rate hold of 90 days
  •  they offer an excellent one year to port time frame. When compared to other lenders this is the longest porting time frame that you will find. You will avoid a full prepayment penalty and have the time you need to close on the house
  • They have a blend and increase option and there is no plan OT
  • Once per the calendar year they allow you to skip one month’s payment on your mortgage

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