Having a midline credit score....Does the rate go up the more you borrow or the rate goes down the more you borrow.
2006-09-20 07:08:01 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Ballpark? About 6.5%.
2006-09-20 07:09:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋
current "par" rate is about 6.5%. not sure what you mean by midline score as that can be anything really. regardless of how much or how little you borrow, the rate is TOTALLY incumbent on your credit. if your credit is poor then you are generally allowed only so much to borrow. really poor credit means at least a 20% down deposit will be required. you have the option to buydown your rate, depending on your lender/bank, and it's usually 1 percent of the loan amount for every 1 percent off on the rate. so if you get a 150,000 loan, 1 percent is 1500. so if you wanted to buy down your rate 2 percent, you'd need to pony up 3000 in order to do so.
2006-09-20 07:21:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Some where between 6% and 7%. Generally speaking, the bank wants to lend you as much as they can so they many adjust the rate downward to entice you to borrow more money.
If your were to shop around, you will find as much as 1/2% difference in rates. Ask about points and costs.
2006-09-20 07:15:40 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Check the websites of the banks, credit unions, and savings and loans in your area. They probably list mortgage and other interest rates listed there.
2006-09-20 07:11:59 · answer #4 · answered by Ralfcoder 7 · 1⤊ 0⤋
THERE IS NO AVERAGE RATE. THE INTEREST RATE CHANGES DAILY AND THEREFORE MUST BE CHECKED DAILY.
2006-09-20 07:15:58 · answer #5 · answered by Anonymous · 0⤊ 0⤋
6.5% is mine
2006-09-20 07:12:57 · answer #6 · answered by Bruce L 1 · 0⤊ 0⤋
6.5%
2006-09-24 04:33:10 · answer #7 · answered by Anonymous · 0⤊ 0⤋