Nationwide Mortgage Rates are available for both purchase and refinance loans in fixed, adjustable and jumbo mortgage loans of varying term lengths. Should you trust nationwide mortgage rates for your next home loan and how do their fees and closing costs compare to the best mortgage lenders? Here is my unbiased review of Nationwide mortgage rates, services and fees to help you make an informed decision for your next home loan.
Nationwide Bank offers purchase and refinance rates for both conforming and jumbo mortgage loans.
Should you trust Nationwide with your next home loan? Is Nationwide really on your side when it comes to fees and points?
Nationwide Mortgage Profile
Purchase and refinance Mortgage Rates are offered through Nationwide Bank, part of the Nationwide Mutual Insurance Company. Their jingle of “Nationwide is on your side” has been driven into every household in America thanks to a lavish advertising budget.
According to the website they offer affordable rates, flexible home loan terms, and helpful mortgage choices. They claim to help first-time homebuyers and existing homeowners alike with purchasing and mortgage refinancing, offering help every step of the way.
Nationwide Bank Contact Information
Nationwide World Headquarters
One Nationwide Plaza
Columbus, OH 43215–2220
Nationwide Mortgage Rates Review
Is Nationwide really on your side when it comes to mortgage rates and fees? Remember, if you’re in the market for mortgage refinancing, the fees you pay make or break the deal you’re getting. Paying too much for the loan origination fee or unnecessary discount points can quickly turn those low refinance rates into a lousy deal.
How do their mortgage rates stack up against the top mortgage companies? Nationwide publishes purchase and refinance rates on the website. Mortgage rates are quoted for both conforming and jumbo mortgage loans with the Annual Percentage Rate and discount points.
The lowest purchase and refinance mortgage rates on the website have the highest out-of-pocket expenses thanks to discount points. Mortgage rates are at historically low levels and paying discount points is an unnecessary expense in nearly every situation.
The FAQ offers some insight into Nationwide’s mortgage fees including a $450 “commitment fee” to lock your mortgage rates. Rate lock fees are widely considered junk fees as it costs the lender nothing to lock an interest rate. The website also discloses a loan origination fee of $795 for a $150,000 home loan which works out to .5%. Most lenders charge a full percent for loan origination so despite the junk rate lock fee Nationwide’s loan origination fee is very competitive. The website discloses an additional $442 in “prepaid finance charges” in addition to any discount points.
Should you purchase or refinance with Nationwide Bank? While the fees were competitive I have reviewed community based credit unions with better deals. You can find the best deal for your next home loan by shopping from several lenders comparing mortgage rates AND closing costs like the origination fee while avoiding discount points.
You can learn more about shopping from today’s best mortgage companies while avoiding junk fees and points by checking out my free Underground Mortgage Videos.