ING Direct Mortgage Rates Last Updated: May 22, 2012 09:30:45
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More about ING Mortgage Rates
ING Direct Mortgage Rates will help you get started on the right path towards saving your money with no hassles.
ING Direct offers two types of mortgages: fixed and variable rate mortgages. The Fixed Rate Mortgage is a closed mortgage rate that offers a 1-5, 7 and 10 year terms with the added security of your rate and payment not changing. Fixed rates are guaranteed for 120 days. If ING Direct mortgage rates go down during that time, you will naturally be given the lower rate. Variable rate mortgages are offered for a 5-year term only against the low interest rate of ING Prime.
ING Direct mortgage rates are offered with a “25/25 prepayment option” allowing you to increase your regular payment by 25% of your original payment amount. Also, anytime throughout the year you have the choice of making a lump sum payment up to 25% of your original mortgage amount.
ING mortgage rates give you the option of amortizing your mortgage up to 30 years for high ratio mortgages and up to 35 years for conventional mortgages allowing you to take control of your payments. With conventional mortgages you are also given the option of skipping a payment once a year, paying it back at your earliest convenience.
If change occurs and you decide to move and sell your home, ING Direct mortgage rates provide you with the flexibility of either taking your mortgage with you or having your buyer take it over, penalty free.
Other Important ING Mortgage Rate Details
- ING Direct Mortgage Life Insurance plan covers your family up to $500,000 to ensure your family’s home is secure in case something were to happen. Insurance premiums are included in your regular mortgage payments and will never increase throughout the life of your mortgage.
- ING Direct is not like your regular bank. There are no branches and everything is done online or by phone.