Current Loan Rates?

[c_hotshot]

I did an advanced search, but was unable to find anything since 2011! Hoping ya'll can help out.

What are the current loan rates that you are getting for your financing and from which lending institution? I'm currently checking with my CU, USAA and dealer's lending institution - want to know who's in the ball park! TIA!

[SONIC]

It will depend on your loan term.
I've seen everywhere from 3 to 8%.
Seems like ~5% is a good rate at the moment on a 20 year note.

[sandm]

capital credit union in wisconsin if you live in that state. they rock. won't do 20, only 15 but we are at 2.75 on a 15 year note with no down. msrp was 112k and we paid 82k so that showed our down.

otherwise as sonic mentioned when we were shopping in june. most dealers told us 4.5-5% and a few local banks were as low as 4.

[MikeB313]

2.75% is a great rate!

I've been seeing around 4-6% for 240 months.

[gman]

I just spoke with USAA they are limiting their loans to 35K stated that the reason is because of covid

[D&P Powell]

I just spoke with USAA they are limiting their loans to 35K stated that the reason is because of covid

I am a long time USAA member. We use them for just about everything. When I looked into using their services for a boat purchase, I quickly realized my dealership had better connections with financial institutions interested in financing boats at much better rates than what USAA was offering. I will continue to use USAA as we have been very happy with them for years. I won't use them for boating purchases or boat insurance though. Just my 2 cents sir.

[culrich77]

I got 3.99 for 20 years through US Bank...

[SR04]

I was just quoted 4.99 for 20 years via Truist Bank via the dealer for our new boat purchase. We opted for a local credit union and went with a shorter term 3.59 for 144 months.

[BurnMac42]

I am a long time USAA member. We use them for just about everything. When I looked into using their services for a boat purchase, I quickly realized my dealership had better connections with financial institutions interested in financing boats at much better rates than what USAA was offering. I will continue to use USAA as we have been very happy with them for years. I won't use them for boating purchases or boat insurance though. Just my 2 cents sir.

When I was shopping my insurance I too looked at USAA since I've been a long time customer. Thankfully the lady on the phone was honest and she told me that they just outsource all their rec. vehicles through Progressive. Meaning they take Progressive quote and then slap a fee on top so she said just go straight to Progressive for a better rate. USAA does a handful of things really well but recreational vehicles and mortgages (outsourced as well) are not one of them...

I've been with them for almost 20 yrs now, have 800+ credit, and a very favorable debt-to-income ratio and I've NEVER been offered their lowest rate.....I stopped going to them for vehicle loans a few years ago becuase of this...I could always get a better rate at my local credit union. I have no clue what it takes to get their best quoted rate.....

[SpencerWhite]

Well, it depends on the situation in the market at the moment. But the situation in the market is influenced by the general political situation.
COVID has its influence, of course, and the current war in Eastern Europe too. This all influences the way banks evaluate risks and their desire to gain even more money than usual.
The current rates are something like 4.44% for 10 years fixed or 4.35% for 15 years fixed. It’s not the best time to take loans, my mind, and you should wait for a little while the situation becomes clearer. But if you want bigger average net worth at retirement you should do that ASAP. But this is just my opinion, and I am not an expert, so you do you.

[Nemikon]

I'm not sure because I have several onses. Better ask an expert, and he'll tell you all the updates related to this.

[Nemikon]

I'm not sure because I have several onses. Better ask an expert, and he'll tell you all the updates related to this. I can recommend to you the expert we turned to when looking for the house of our dreams - Mortgage Advice Cambridge. They were very professional and helped us even with details we didn't think about. They even helped us choose a plan of mixed loans to have everything we want and be able to repay them monthly while not damaging our whole budget.

[troublmaker]

I have been seeing around 6%, too much for my liking.

[troublmaker]

I have been seeing around 6%, too much for my liking. I also saw some advertising about mortgage rates as low as 3.75%, but you know, it's an ad. Anyway, banks wouldn't be if they didn't make a small fortune from every mortgage they give. Still, I don't understand why people antagonize them. When you read the contract attentively before signing in the company of a lawyer, you'll see all the terms as clear as day. They give you money and expect to double it once you have paid it back. It's not like they try and deceive you. I had a friend from Mortgage Broker Essex assist me with my mortgage, and it was clear from day one how much I would need to return.