Is 5.875% a right interest rate for a mortgage?
30 year mortgage on 130K
Answers:
If your not buying it down, specifically a very good rate. Be thrifty about the backend fees and make sure you take locked in with that rate asap Source(s): loan officer
Withought any other information, that would be a real good rate asuming that nearby are 0 origination points & 0 discount points. I would also make sure that theye are not any "second-hand goods fees". Sometimes you may see 3 different names for the same type of charge, ie processing fee, documenttation fee & application duty may be all the same item for the same services. If a broker or lender charged $300 - $500 for each one of these, you coupld be paying the equivelant of paying points... Get multiple detailed Good Faith Estimates!
130K, wow where do you live?
That is a great % rate, much lower than mine.
Congrats!
0 points? It would be oustanding today. Source(s): 7 years mortgage lend experience.
Sounds good to me. Just make sure they don't renovate it on you at the closing. :) Source(s): I am a mortgage loan officer.
Related Questions:
Fixed Mortgage-falling Bank of england rates ?
Hello, In Jun 2007, i have got Fixed mortgage at 5.5% rate for 5 years. But the hill of england rate is now 3%. Can anybody suggest me, what kind of commotion should i take now? Is it apposite idea to cancel the existing mortage...
Answers:
If your not buying it down, specifically a very good rate. Be thrifty about the backend fees and make sure you take locked in with that rate asap Source(s): loan officer
Withought any other information, that would be a real good rate asuming that nearby are 0 origination points & 0 discount points. I would also make sure that theye are not any "second-hand goods fees". Sometimes you may see 3 different names for the same type of charge, ie processing fee, documenttation fee & application duty may be all the same item for the same services. If a broker or lender charged $300 - $500 for each one of these, you coupld be paying the equivelant of paying points... Get multiple detailed Good Faith Estimates!
130K, wow where do you live?
That is a great % rate, much lower than mine.
Congrats!
0 points? It would be oustanding today. Source(s): 7 years mortgage lend experience.
Sounds good to me. Just make sure they don't renovate it on you at the closing. :) Source(s): I am a mortgage loan officer.
Related Questions:
Fixed Mortgage-falling Bank of england rates ?
Hello, In Jun 2007, i have got Fixed mortgage at 5.5% rate for 5 years. But the hill of england rate is now 3%. Can anybody suggest me, what kind of commotion should i take now? Is it apposite idea to cancel the existing mortage...