Whats the best rate on a mortgage at present?

Question

My 5 year fixed mortage is up and I only have 9 years to go, any good deals out there.

Answer 1

go to www.realtor.com or www.freddiemac.com or www.fanniemae.com to learn more. lots of good free mortgage refinance info there. oops try this instead.
http://www.fanniemae.com/aboutfm/index.jhtml
http://www.freddiemac.com/

Answer 2

You obviously know a lot about mortgages; With 9 years to go at your present rate you may not wish to change. Your statement that the 5 year fixed is up, may indicate that you had a "sweetheart" deal for the 5 years portion. Usually another lending institution would beat the present institution's rate just to garner customers.

I checked mortgages about 2 weeks ago, the best at present has been 5.875%. I am not certain that the offer was not a negative amortization mortgage, and does not carry a balloon. In any case the rate offered will depend on your credit and income status.

Answer 3

You gave no criteria to indicate the type of mortgage that you would be qualified to get. The rates in the United States are currently tied to your credit score.

In order to quote a rate that score would be necessary as well as a credit report to indicate the amount you pay out each month versus the income you have coming in each month.

If you are just looking for the current rate you may find that in your local paper.

If you have a very good credit score in the upper 700's you will get a very good rate. If your credit score is around 500 you will get the best rate based on your credit score.

What do you mean you have 9 years left. Left on what?

You should contact a mortgage broker, fill out an application and allow this person to run a credit report, get your credit scores and determine the rate you are qualified for.

You should do this about a month before your 5 year fixed rate is up. This will allow your refinance to be completed before you are due to pay the new adjustable rate.

In answer to your question there are lots of good deals out there, you need to qualify for them.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 4

9 years to go on what? you said your 5 year loan is up... check with a lender, and not a marketing site like Lending Tree. Try Quicken Loans, ELOAN, and Choice Finance for rates.