Can I capture angelic mortgage rate next to the following background?
my salary: 160K, credit score: 660
my wife' s net: 24K, her credit score: 775
what is our situation regarding a morgage around 250-300K? do we bring back a good rate?
Answers:
You can get free mortgage rate quotes from http://www.lionwoods.com
Just type contained by your zipcode, and then it lets you compare rates from up to four different lenders. Then you can find who offer the lowest rates in your area. Hope that help. Good luck.
Banks go by the lowest credit score. So your 660 would be what you are base on. In these times 660 is a bit low and there will be adds to the rate for it. Bite the bullet and pay packet a point to get a great rate (1 point =1% of the loan) Source(s): I am a loan consultant
The answer is yes based on the information you hold given.
For any lender to know for sure they would need to know if this is a purchase or a refinance loan. What Loan to Value (LTV). What your Debt to Income (DTI) calculates out to. Have you have any 30,60,90 day lates in the final year. Do you have any judgements or current bad debt? Have you have any foreclosures, reposessions or bankruptcies in the closing 3 years? If this is a refinance how long have you had the home? Do you want bread out?
These are just a few questions any lender should ask up to that time teaseing a borrower with a rate.
As to rates on Friday (4-4-2008) a 5.5% fixed 30 year (30 day lock) be an average base rate for both convetnional and goverment loans. Remember rates change constantly and oscillate from lender to lender. A good loan originator will find you the best deal for the lowest costs.
Good Luck Source(s): 19+ years as a mtg supporter broker
You can actually make your own calculation using a mortgage calculator. A mortgage calculator's algorithm is based on the latest mortgage rates available, so it's just about 95% accurate. Of course, you have to expect some difference between the figures of the calculator and the lender. Here's a reliable one: http://www.whataboutloans.com/tools/mort… Source(s): http://www.whataboutloans.com/tools/mort…
Related Questions:
Is it possible for your mortgage to budge up when u own a fixed rate?
Recently purchased a home (first time buyer) We received a fixed rate with the escrow coming out of the payments. I received a letter from my dune telling me that my savings article was defaulted for $25.00 because...
my wife' s net: 24K, her credit score: 775
what is our situation regarding a morgage around 250-300K? do we bring back a good rate?
Answers:
You can get free mortgage rate quotes from http://www.lionwoods.com
Just type contained by your zipcode, and then it lets you compare rates from up to four different lenders. Then you can find who offer the lowest rates in your area. Hope that help. Good luck.
Banks go by the lowest credit score. So your 660 would be what you are base on. In these times 660 is a bit low and there will be adds to the rate for it. Bite the bullet and pay packet a point to get a great rate (1 point =1% of the loan) Source(s): I am a loan consultant
The answer is yes based on the information you hold given.
For any lender to know for sure they would need to know if this is a purchase or a refinance loan. What Loan to Value (LTV). What your Debt to Income (DTI) calculates out to. Have you have any 30,60,90 day lates in the final year. Do you have any judgements or current bad debt? Have you have any foreclosures, reposessions or bankruptcies in the closing 3 years? If this is a refinance how long have you had the home? Do you want bread out?
These are just a few questions any lender should ask up to that time teaseing a borrower with a rate.
As to rates on Friday (4-4-2008) a 5.5% fixed 30 year (30 day lock) be an average base rate for both convetnional and goverment loans. Remember rates change constantly and oscillate from lender to lender. A good loan originator will find you the best deal for the lowest costs.
Good Luck Source(s): 19+ years as a mtg supporter broker
You can actually make your own calculation using a mortgage calculator. A mortgage calculator's algorithm is based on the latest mortgage rates available, so it's just about 95% accurate. Of course, you have to expect some difference between the figures of the calculator and the lender. Here's a reliable one: http://www.whataboutloans.com/tools/mort… Source(s): http://www.whataboutloans.com/tools/mort…
Related Questions:
Is it possible for your mortgage to budge up when u own a fixed rate?
Recently purchased a home (first time buyer) We received a fixed rate with the escrow coming out of the payments. I received a letter from my dune telling me that my savings article was defaulted for $25.00 because...