What is a normal interest rate for a first time buyer on a 250,000 dollar house??

Answer 1

check this website www.dotheloan.com. they might be able to help.

Answer 2

geez, if you can buy a home for $250K then you are lucky. I live in Hawaii and the average home price is $650K and average condos is $400K. i am sure this is nothing compare to cost of home in other expensive places like CA.

good start would be to check for first time homebuyer loan programs at your local banks. Check with your bank where you have an account. Since you are already their customrer they will treat you little better than other banks who knows nothing about you. These banks will waive certain fees, lower closing costs and lower interest rates. For example, most states there are state funded loans that offer 30-yr fixed low interest rates such as 4.5% with each point paid by the seller and buyer. There are conditions that you need to meet such as income level, length of year you need to be owner-occupant, etc. you just need to do some homwork and find the best rate. good luck.

Answer 3

On a 30 yr fixed, probably six something percent. But to really find out, shop around to three of more lenders or lending brokers. Do not be bashful about contacting multiple lenders. Some specialize in low down payments, some low credit scores and some perfect borrowers.

Answer 4

Depends on several factors. What's your credit score like? Do you have enough income to swing payments?

Assuming everything looks good, figure 6% to 6.25% depending on loan terms.

You really should find a good independent mortgage broker who will find you any city, county or state sponsored first time homeowner programs. Mine found me a great deal offered by my state, with a lower than market rate 30 year fixed loan + help with the down payment. I couldn't have done it without her.

Answer 5

That soley depends on how good your credit is and what company you are dealing with.