Low mortgage rates can play a large factor in homeowners being able to save tens of thousands of dollars in interest. Even a 1% difference in the mortgage rate can save a homeowner $40,000 over 30 years for a mortgage valued at $200,000. Having a top-notch credit score plays a critical factor in determining what interest rate lenders will offer consumers, but other issues such as the amount of your down payment also impact it. The University Federal Credit Union, Tri-Parish Bank, Quad City Bank & Trust Co, First Southern Bank and First Basin Credit Union are your best bets for the lowest 15-year mortgage rates.
Here are the top-five lowest rates for a 15-year mortgage, according to RateWatch, a Fort Atkinson, Wis.-based premier banking data and analytics service owned by TheStreet, Inc., which surveyed the majority of institutions in the U.S. from Feb. 20 to Feb. 27.