I'm looking at buying a house in providence for $239,900. I am wondering what a typical mortgage is like.. this would be my first house and i dont know much about interst rates or anything like that.
2006-06-26 19:04:06 · 5 answers · asked by blackbaloon1 2 in Business & Finance ➔ Renting & Real Estate
We just bought our first house in Feb. Before you make any offers, you should get loan preapproval through a mortgage company. I suggest shopping around on rates, try at least two or three different ones. Once you find the house you like (that is within the limits of your mortgage preapproval), make an offer on it (through your realtor). Then, if the offer is accepted, then you and your realtor will go to a Title company to finalize the transaction. You need to bring your down payment (if there is one) to this meeting in the form of a cashiers check.
Hope this was semi-helpful!
2006-06-26 19:09:57 · answer #1 · answered by powhound 7 · 0⤊ 0⤋
Your mortgage rate is decided by your credit and downpayment. If you go to your real estates web site, they should have a mortgage calculator which will tell you what you would have to pay, for various interest rates.
2006-06-27 02:11:14 · answer #2 · answered by psycmikev 6 · 0⤊ 0⤋
I am also the first time home buyer like you. I have a good links for you:
https://lending.etrade.com/e/t/mortgage/lhome
http://www.realestatejournal.com/toolkit/mortgagetools/
I hope this helps.
2006-06-27 03:33:57 · answer #3 · answered by cooldude_91801 2 · 0⤊ 0⤋
Also check out the free report available at:
http://www.first-time-homebuyers-loans.com
I found it to be very helpful.
It will point you in the right direction.
Good luck,
Greg S.
2006-06-27 14:35:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There is a good online siminar that will teach you about morgages and how to structure it.
2006-06-27 02:47:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋