Flagstar Bank Mortgage Rates as Your Options - Short Background

Flagstar Bank Mortgage Rates as Your Options - Short Background

Flagstar Bank Mortgage Rates vary from the most popular to the least popular one. This article will give you some insights about the most popular ones.

As a company which provides Mortgage Banking and Community Banking as its business segments, Flagstar Bancorp, Inc. has a variety of Flagstar Bank Mortgage Rates to offer its customers with. This article will break down some of the most popular mortgage rates especially for you.

Short Background of Flagstar Bank Mortgage Company


Owned by Flagstar Bancorp, Inc., Flagstar Bank Mortgage Company was first established in 1987 under the name of First Security Savings Bank. Twelve years later, the company changed its name to the newest one as we know it today. In 2000, it moved the location of its headquarter to Troy, Michigan. One interesting thing from the company is its internet-based branch which produces a lot of banking mortgages. The online banking offers a website platform where its customers can manage multiple of their accounts such as budget tracking, Bill Pay, fund transfers, and reward account management. Also included is Intuit management of finance which helps the customers to plan personal finances and track expenses. Flagstar also provides a mobile banking application for tablets and smartphones to make it easier for the customers to access the company’s services.

The Most Popular Flagstar Bank Mortgage Rates


The first popular Flagstar Bank Mortgage Rates is the 30-year fixed mortgage. It is much recommended for those who have troubles regarding their budget. To have lower payments every single month compared to the usual monthly payments of shorter period of time, this kind of mortgage is ideal for you. With 4.407% of interest rate and Annual Percentage Rate (APR) of 4.539% as of February 2018, it remains constant as long as it is set at closing.

The second Flagstar Bank Mortgage Rates is the 15-year fixed mortgage. Compared to the previous mortgage, the payments every single month apparently are more expensive. But the payments will only last for 15 years period of time instead of 30 years; leaving you with other choices to save your money for the future.

The third Flagstar Bank Mortgage Rates is 7/1 adjustable rate mortgage. As the name implies, for the first seven years period of time, the monthly payments will be much cheaper compared to the previous mortgages. This is a simple and quick mortgage application ideal for those who want to relocate to another location in a seven years’ time.

The fourth Flagstar Bank Mortgage Rates is FHA 30-years fixed mortgage. Similar to the first mortgage, it is fixed for 30 years period of time; the main difference would be that this mortgage is insured by the Federal Housing Administration. For those who have blank credit history or less optimal credit score, this one is the ideal choice as there is no limitation about your income to apply.

The fifth Flagstar Bank Mortgage Rates is VA 30-years fixed mortgage. This mortgage’s period of time will be the same in 30 years as the first and the fourth mortgages, and it is especially designed for the personnel in active duty and veterans. This is probably the most flexible of all, as no down payment is required to apply for this mortgage.

The last but not least Flagstar Bank Mortgage Rates is Jumbo 30-years fixed mortgage. Still in the same 30 years period of time, this mortgage has up to $3 million loan balances. It is available for refinance or purchase with an adjustable or fixed term.

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