We're committed to lower rates.

Great rates - consistently below the national average* - plus five star service.

We started Local Mortgage to bring something different to the mortgage market. Historically, mortgage customers had a choice between lower rates (and, typically poor service) with online lenders or better service with higher rates from local loan officers.

Not anymore . . . If you want the best rates, great products, and the right blend of technology with a human touch during your mortgage process, you are in the right place. When you are ready to buy a home or refinance, you will feel at home with Local Mortgage.

* Based on a comparison of LMI rates vs Mortgage Banker's Assn Weekly Rate Survey

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Conventional Loan Rates

Accounting for the vast majority of residential mortgages in the U.S. (around 70%), conventional loans are considered the "standard" mortgages for most Americans who overwhelmingly choose 30 year fixed rate financing for their homes. These loans are purchased from lenders across the nation by Fannie Mae and Freddie Mac who then issue mortgage-backed securities from the mortgages which are sold to investors globally. Fannie Mae and Freddie Mac are governmental sponsored enterprises which were nationalized and rolled under direct government supervision and control in the wake of the 2008 recession.

Guidelines for these loans are uniform and do not vary from lender-to-lender, but pricing (rates and fees) and willingness to originate all eligible loan types are a few things which can set lenders apart. Both agencies impose loan level pricing adjustments (add-on's) based on credit score and loan-to-value ratio, so having a strong credit score is essential to getting the best rates on conventional loans.

Conventional

30 Year Fixed Rate

6.875%

Interest Rate

7.016%

A.P.R.

Points/(Lender Credit)

(0.250)

Updated 07/08/2024 10:00:00 CDT

More Information>

Conventional

First Time Home Buyer^

6.875%

Interest Rate

7.016%

A.P.R.

Points/(Lender Credit)

(0.250)

Updated 07/08/2024 10:00:00 CDT

More Information>

Conventional

97% 30 Year Fixed Rate

6.875%

Interest Rate

7.016%

A.P.R.

Points/(Lender Credit)

(0.250)

Updated 07/08/2024 10:00:00 CDT

More Information>

FHA, VA and USDA Loan Rates

Accounting for the vast majority of residential mortgages in the U.S. (around 70%), conventional loans are considered the "standard" mortgages for most Americans who overwhelmingly choose 30 year fixed rate financing for their homes. These loans are purchased from lenders across the nation by Fannie Mae and Freddie Mac who then issue mortgage-backed securities from the mortgages which are sold to investors globally. Fannie Mae and Freddie Mac are governmental sponsored enterprises which were nationalized and rolled under direct government supervision and control in the wake of the 2008 recession.

Guidelines for these loans are uniform and do not vary from lender-to-lender, but pricing (rates and fees) and willingness to originate all eligible loan types are a few things which can set lenders apart. Both agencies impose loan level pricing adjustments (add-on's) based on credit score and loan-to-value ratio, so having a strong credit score is essential to getting the best rates on conventional loans.

FHA

30 Year Fixed Rate

6.125%

Interest Rate

6.744%

A.P.R.

Points/(Lender Credit)

1.025 Updated 07/08/2024 10:00:00 CDT

More Information>

Home Equity

15 Year Fixed 2nd Mortgage

10.375%

Interest Rate

11.893%

A.P.R.

Points/(Lender Credit)

2.000 Updated 07/08/2024 10:00:00 CDT

More Information>

Have questions? Need advice? . . . Talk to us!

There's nothing our loan officers like doing more than meeting our customers and helping them one-on-one.

Call us at 901.504.4663

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Telephone Meeting >

Great Rates with 5 Star Service

As a family-owned company, we’ve always been more about people than numbers. We set out from the beginning to offer what we call “LOCAL” service. That means personal service from your very own loan team. We answer our phones and reply quickly to your texts and emails. Our people are true professionals who really know mortgages and how to create the best deal for each customer. They consistently get rave reviews for their service.

Along with high levels of service, you'll also get interest rates that are consistently much lower than the national average. By serving a large area from one office, marketing directly to those most likely to need us and using leading edge technology, we've kept expenses low as our business has continually grown.

Our customers realize those cost savings every day by saving thousands of dollars on their mortgages. No compromises - Here, you can get great rates and “LOCAL” service!