ING Direct Mortgage Refinance & Rates

ING Direct mortgage and refinance rates are competitive, as would be expected from the online branch of a highly reliable and renowned international bank. ING Direct offers a full range of homeowner loans, and there is clear and concise information on their website regarding 30 year adjustable mortgages along with an online application form.

ING Direct Mortgage Refinance

ING Direct now offers 30 year mortgage rates that are based on a fixed rate for either five or seven years and an adjustable rate for the remainder of the mortgage term. The initial fixed rates are higher for loans over $500,000 than for smaller loans but the adjustable portion rates are the same for loans of all amounts. It is estimated that ING Direct mortgage rates are about one per cent lower than the national average. ING Direct charges only an origination fee for their mortgages; there are no points or additional fees involved other than standard closing costs.

ING Direct Refinance Rates

The 15 year refinance rates which ING Direct has offered in the past are quite competitive, and are also estimated to be one per cent below the national average. However, at present ING Direct does not advertise a 15 year refinancing rate on their website. Instead, they offer an online application for refinancing which leads to links for the 30 year mortgages. Therefore, consumers should contact the bank regarding information on 15 year refinancing rates.

Home Equity Loans

The same online application that is used for first mortgages and refinancing asks if the applicant is interested in home equity loans, and asks what amount of home equity line of credit the applicant wishes to be pre-qualified for under its Orange Home Equity program. Again, there is no information regarding present home equity loan rates for the Orange Home Equity program.

FHA Loans

According to the U.S. Department of Housing website, ING Direct does not participate in Federal Housing Administration (FHA) mortgage programs. Borrowers who qualify for FHA loans are advised to check this website or to contact a mortgage advisor who specializes in FHA loans in order to find out which lenders in their area participate in FHA programs and offer the FHA loans for which they wish to be considered.

ING Direct is an online-only bank which generally offers attractive rates and terms for 30 year adjustable mortgages. Its origination fee and closing costs are also competitive. As it is an online lender, ING Direct offers the convenience of electronic closing for all home loan products. Home equity loans and a home equity line of credit are also available from this lender, and consumers are advised to contact ING Direct for additional information on ING Direct mortgage rates and ING Direct refinancing rates for other types of mortgage and refinancing loans.