I mean I want to go through countrywide but do they have like only one rate depending on my score, or is it the higher the interest the more money for them? like a real estate agent the expensier the home the higher the commision? Can I push them for a lower interest? by the way my credit is really good 735
2006-09-22 06:47:21 · 9 answers · asked by Shadow 4 in Business & Finance ➔ Renting & Real Estate
Work with a mortgage broker that is willing to show you his rate sheet and how much he makes off your loan upfront. I personally would stay away from loan reps at places like countrywide, since they don't have to disclose how much they made off the loan.
If you're in California, I can refinance you and what you'll like about my refinance, I am totally honest and upfront on how much I make. You'll sign the deal without wondering if you got over-charged on a rate or not.
Regards
2006-09-22 17:59:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You have a really good credit score. The best interest rate I would say they could offer you with your score is a 6.50%. Countrywide does not always have low rates. Also if you're trying to get a good rate talk to your broker about buying down points. Also some banks also charge a yieldspread so they could get paid more. So make sure you know if your broker is charging you yieldspread. That's the part that he can lower, and get you a better interest rate.
2006-09-22 13:57:33 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Shop around. Don't just assume you'll get the best deal with Countrywide. Interest rate is important, but closing costs are an issue too. Contact several lenders and get rates and costs.
You may find a better deal elsewhere.
2006-09-22 15:16:30 · answer #3 · answered by Kathleen M 4 · 0⤊ 0⤋
You can always try to get a better rate. However, often people who shop by rate or demand a lower rate, end up with higher fees and closing costs from the lender. If you are getting a lower rate, make sure they didn't just add the money on somewhere else. Make sure you get a "Good Faith Estimate" that includes all costs.
Good Luck!
2006-09-22 15:01:03 · answer #4 · answered by LasVegasMomma 4 · 0⤊ 0⤋
A company has to make a certain amount of revenue per loan they close. Countrywide has some of the highest rates out there. They're one of the lenders I use, but I never send loans to them because of this. They take forever, too.
Shop away!
2006-09-22 14:07:43 · answer #5 · answered by KL 5 · 0⤊ 0⤋
You can push them, I just did the same - actually got away from Countrywide to Nations Bank. They worked with me to lower the rate. Good luck
2006-09-22 13:50:20 · answer #6 · answered by DrMikeonCall 4 · 2⤊ 0⤋
Well about 3 months ago i refinanced with Countrywide, they did work with me to lower my rate, but i felt it could have been lower, was just in a hurry to refinance. Shop around! Get rates then choose : )
2006-09-22 13:51:11 · answer #7 · answered by Anonymous · 2⤊ 0⤋
Do some research to find a website that will provide your request to lots of funding companies that will fight over your loan. Then take the best option. That is what I did and I was very happy with the outcome.
Country wide has a vicious pre payment penalty so be careful.
2006-09-22 13:54:58 · answer #8 · answered by Florida Girl 3 · 0⤊ 0⤋
you have to shop for the best one...im a loan officer, you cant really push us...if you sound determined and willing to work with us, we will work with whats best for you and us
2006-09-22 14:34:05 · answer #9 · answered by priyapriteshpatel 3 · 0⤊ 0⤋