Mortgage Rates
Mortgage Rates
The rates below are effective 4/25/2024, for 45-day rate locks for single-family, owner-occupied purchases. Other term lengths are available for certain loan types.
Fixed-Rate Mortgages
| Term | Loan Amount | Rate | APR≁ | Payment example≁ |
|---|---|---|---|---|
| 30-Year Term | $300,000 | 7.000% | 7.029% | $1,995.91 |
| 30-Year Term | $200,000 | 6.875% | 6.919% | $1,313.86 |
| 30-Year Term | $100,000 | 6.750% | 6.832% | $648.60 |
| 15-Year Term | $300,000 | 6.375% | 6.422% | $2,592.75 |
| 15-Year Term | $200,000 | 6.500% | 6.579% | $1,742.21 |
| 15-Year Term | $100,000 | 6.875% | 6.989% | $891.85 |
Adjustable-Rate Mortgages
| Fixed term | Rate^ | APR≁ | Payment example≁ |
|---|---|---|---|
| 5 years | 6.500% | 7.410% | $948.10 |
| 7 years | 6.750% | 7.360% | $972.90 |
| 10 years | 7.000% | 7.330% | $997.95 |
Other Mortgages
| Type | Term | Rate | APR≁ | Payment example≁ |
|---|---|---|---|---|
| Veterans Affairs (VA) Fixed-Rate Mortgage | 30 years | 6.500% | 6.655% | $948.10 |
| Iowa Financing Authority (IFA) Fixed-Rate Mortgage | 30 years | See IFA website | -- | -- |
Construction and Lot Loans
| Type | Loan amount | Rate | APR≁ | Payment example≁ |
|---|---|---|---|---|
| 3-Year Lot Loan Balloon (15-year term) | $100,000 | 6.875% | 7.160% | $891.85 |
| 15-Year Fixed Mortgage | $300,000 | 6.750% | 7.253% | $2,654.73 |
| 10-Year ARM (30-year term) | $300,000 | 7.250%^ | 8.041% | $2,046.53 |
| 10-Year ARM (30-year term), 1 discount point | $300,000 | 6.750%^ | 8.070% | $1,945.79 |
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Sign up≁APR = Annual Percentage Rate. Rates based on 780 credit score, 75% loan to value and, unless otherwise noted, a loan amount of $150,000 and no discount points. Lower interest rates available by paying discount points. Rates can vary for other loan amounts and are subject to change without notice. Veridian is not responsible for typographical errors or omissions. Payment examples do not include taxes and insurance; if applicable, payment will be higher. All Veridian mortgages have no origination fee. Other loan terms may be available. Veridian NMLS ID# 531586.
^ARM rates are calculated by adding a margin, 2.75%, to an index, the 1-year Treasury rate. The minimum rate is 2.75%. Rates can increase no more than 2% each year and 6% total.