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Dave & Pat Zumbrun

(805) 340-9338

Pat Zumbrun
Email Pat at  
Cell: (805) 340-9338
BRE #01229401

Dave Zumbrun
Email Dave  at
Cell: (805) 340-9339
BRE #01227683

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latest interest rates

Fixed Mortgage Rates for Ventura Homes

Fixed mortgage rates for Ventura homes remain below 4% for 30 year fixed rate and 3% for 15 year fixed rate. What are the benefits of a 15 year vs 30 year?Good news!  Home mortgage interest rates remain at historically low levels.  In the not so distant past, most Ventura home buyers had to finance their homes with a 30 year adjustable rate mortgage just to be able to afford the initial payments.  Of course, after a couple of years, these payments went up so much that thousands of homeowners across the country ended up losing their properties to foreclosure.  Nowadays, fixed mortgage rates for Ventura homes are so affordable that a 15 year FRM is a possibility.

According to Freddie Mac’s latest Primary Mortgage Market Survey, a 30 year fixed-rate mortgage (FRM) averaged 3.59%, down 0.63% from the same time last year.  A 15 year FRM averaged 2.86%, down 0.53% from the same time last year.  That means that someone who bought a Ventura home just last year is paying hundreds more in interest per year than someone who buys one today.

You’ve found the perfect Ventura home for you and your family.  You need to finance $250,000.  You qualify for the latest average interest rates.  Which loan should you consider?  A 30 year FRM will give you a lower monthly payment ($1135 per month vs $1710/month).  However, you will be paying twice as long as a 15 year FRM and end up paying almost three times as much in interest over the life of the loan ($158,675 vs $57,741).  That’s a lot of money!

Fixed mortgage rates for Ventura homes remain at amazingly low levels. That’s why now is as good a time as any to pursue your dreams of homeownership in Ventura County.  When you’re ready, please contact us.


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Dave and Pat Zumbrun, Your Ventura County real estate specialists