FORT WASHINGTON, Pa.--(BUSINESS WIRE)--Fast growing lender Filo Mortgage is now offering a 1.99% (1.99% APR) mortgage rate with no points and no origination fees for 15-year conventional term purchase loans.
Filo Mortgage continues to be a leader in low rate mortgages with no points. To qualify for the 1.99% rate with no points, borrowers need a credit score above 680, a down payment of at least 20% and have a loan amount greater than $200,000. On 30-year conventional terms, Filo Mortgage is offering qualified applicants purchase loan rates as low as 2.625% (2.625% APR) with no points and no origination fees.
For more information on Filo’s rates, consumers can visit: https://www.filomortgage.com.
Filo Mortgage founder and co-CEO Jeffrey Frutkin said, “We want to spread the word that you can get a very low rate with no points for your new home loan. If you are buying a house and using one of the large banks for your mortgage, you may be paying too much for your loan. Large companies with brick and mortar branches have larger cost structures and tend to pass on those expenses to borrowers in terms of higher mortgage rates and fees. It is worth getting a second or third quote to see if you can get better pricing. Even a small change in rate can result in thousands of dollars of savings over the life of the loan.”
Filo Mortgage recommends that consumers check their loan estimate to insure they are not paying points or origination fees, unless it is to purposely buy down the rate.
About Filo Mortgage
Filo Mortgage, L.L.C. is a fast-growing lender that provides super low rates, quick closings and a user-friendly digital experience to its borrowers. Founded in 2019 and licensed in 22 states, the company and its reputation have grown rapidly under the guidance of a management team with years of experience in the mortgage industry. Filo Mortgage is headquartered in Fort Washington, Pennsylvania and operates offices in Texas, Arizona and Missouri. Since its founding in 2019, Filo Mortgage has surpassed $3 billion in loans closed. Filo Mortgage focuses on making the borrowing experience fast and hassle free, and at the lowest possible cost for both home-purchase and refinance loans. Filo does not charge origination fees.