What mortgage rate can I expect?
I am looking at putting $30,000 down on a house that is $80,000. I have the other $50,000 within investments right now, so the loan could also be backed surrounded by cash. I have a credit mark in the mid 600s and no documented income. I have no other debt as my vehicle is already paid for.
Answers:
5%, but good luck with the no documented income. Source(s): TX Realtor
WELL MY HOUSE TOTAL COST WAS $365,000 AND I PUT $165,000 AND MY MORTGAGE IS $1048.00 A MONTH AND MY CREDIT SCORE WAS 720. SO I HOPE THIS COULD HELP U GET SOME SORT OF IDEA. HAVE A GREAT DAY GOOD LUCK
If your score is around the 650 flare you should be getting best rates. If you are looking for a 3-5 year term you should be getting just over 4%. I enjoy a 5 year rate at 4.19% currently. I would say your main concern is getting qualified through your edge with not having documented income.
The best point to do is to use the bank where any money that you deposit your money. If you can show at lowest a 12 month record of deposits that you have received from income or irregular jobs you could build your case profoundly better.
I have got a mortgage put together close to that at 50% loan to value so in your satchel you would need another $10,000 in down stipend to make that work.
Another option is to check to see if you enjoy someone that can co-sign on the mortgage for a year until you establish a payment history with that lend.
check out info on www.mortgagebrokerrate.com to read up on what is involved on co-signing. Source(s): www.mortgagebrokerrate.com
Without documented income, I would not hold my breath.
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Answers:
5%, but good luck with the no documented income. Source(s): TX Realtor
WELL MY HOUSE TOTAL COST WAS $365,000 AND I PUT $165,000 AND MY MORTGAGE IS $1048.00 A MONTH AND MY CREDIT SCORE WAS 720. SO I HOPE THIS COULD HELP U GET SOME SORT OF IDEA. HAVE A GREAT DAY GOOD LUCK
If your score is around the 650 flare you should be getting best rates. If you are looking for a 3-5 year term you should be getting just over 4%. I enjoy a 5 year rate at 4.19% currently. I would say your main concern is getting qualified through your edge with not having documented income.
The best point to do is to use the bank where any money that you deposit your money. If you can show at lowest a 12 month record of deposits that you have received from income or irregular jobs you could build your case profoundly better.
I have got a mortgage put together close to that at 50% loan to value so in your satchel you would need another $10,000 in down stipend to make that work.
Another option is to check to see if you enjoy someone that can co-sign on the mortgage for a year until you establish a payment history with that lend.
check out info on www.mortgagebrokerrate.com to read up on what is involved on co-signing. Source(s): www.mortgagebrokerrate.com
Without documented income, I would not hold my breath.
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