Lowest New York Mortgage Rates: 5/1 ARM

When you’re looking for the lowest New York mortgage rates, don’t stop your search with fixed rate mortgages. You can find competitive rates on adjustable rate mortgages in the city as well, and you may find that this type of home loan better suits your needs.

A common type of adjustable rate mortgage is the 5/1 ARM. Below is a list of the New York lenders with the best rates on these loans today.

Best 5/1 ARM Home Loan Rates in New York, NY

EverBank: 3.010% APR
MTG Capital: 3.061% APR
Quicken Loans: 3.135% APR
WCS Lending: 3.217% APR
Flagstar: 3.244% APR

The above rates are accurate as of May 19, 2011 and are subject to change at any time. Rates are based on a principal loan amount of $300,000. Please note you may be offered a different rate based on your credit.