Is 6.5% a good interest rate on a home in Kentucky?

Answer 1

If its a 30 year fixed its an outstanding rate and if its an ARM (adjustable rate mortgage) its a good rate. You need to make sure your not being charged an arm and a leg in closing costs so ask your lender for a GFE (good faith estimate). I hope this helps you but if you need any help feel free to email me [e-mail].

Answer 2

Yes, 6.5% is a good interest rate anywhere. I just bought a home and my interest rate is locked in at 6.875%. I would say anything less than 7% is something that you will need to lock in sooner because rates have been going up and although the Ferderal Chairman Ben Bernanke says inflation is slowing down, I would not believe him. Go for it!

Answer 3

What type of product did you get?
3/27 arm
2/28 arm
30 year fix

Depends on product. Todays 30 year fix on the wholesale side if you have pristine credit and good assests around the rate you quoted.

What you are questioning is Closing costs and a good GFE should get you around that bend.

Good luck

Answer 4

6.5% fixed? I'd grab it as fast I could! It's a fantastic rate anywhere. If it's adjustable, it's ok, but not great.

Lock it in as fast as you can. It won't stay for very long!

Good luck!

Answer 5

I'd love to see if I could beat it :) But to be honest, that's a good rate in today's market, it would also depend on your specific situation, you might be able to get it a little lower, but not by much I would think. It would also depend on your loan program type and the options on it.

Answer 6

I got arrested at the border of Kentucky once


for trying to smuggle books in....

Answer 7

yes it is