What’s the best way to find the lowest mortgage rate possible after getting an accepted offer?
Author: admin // Category: mortgage ratesWhat do I need to do to know I am getting the best mortgage rate possible (just got an offer on a house accepted) – I live in Indianapolis, likely will get a 30 yr fixed. Any ideas on what kind of rate I should be looking for
don’t be fooled into rates keep your eyes on the finance charge look at how much it is costing you to borrow the amount you need to purchase the home ask your bank how much will it cost me to borrow the 150,000 or whatever the price of the home is that is where u do your bargaining if you are a first time home buyer it is likely they will give you a 30 year fixed make sure it is fixed call a primerica rep to sit with u on the closing notice i did not say a layer because they have no idea about mortgages.read and understand your truth in lending federal truth in lending will let you know the real truth about your mortgage please read it carefully.
January 16th, 2013 at 6:12 am
The rate is dependant on How much of a mortgage, how much down payment you have, Your credit score, your debt to income ration. Start with the bank where you have your checking and savings.
Look online what the National companies are offering. Wells Fargo and such
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January 16th, 2013 at 6:57 am
once again that depends on your credit score. the higher the score the lower the interest rate.
i have a 5% loan through wells fargo, but i got that about 10 years ago before the economy went up side down.
think the best you can hope for now is a hair over 6% and that’s if your credit score is over 725 and you have enough down and a good job.
good luck
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experience