Me and My fiance are about to get approved for a mortgage toghther. My credit score is about 730, hers is 615. We both have equal income and it is suffiecent to cover what are expected monthly payments will be. CAn someone estimate about what kind of interest rate we should expect?
2007-03-08 04:49:04 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If you qualify for conforming, which is a possibility considering the credit scores, the rates are running in the high 5s to low 6s.
2007-03-08 05:05:04 · answer #1 · answered by togashiyokuni2001 6 · 0⤊ 0⤋
Well there are a few factors here. First of all I would NEVER take a quoted rate over the phone nor over the internet. There are way too many brokers out there right now quoting a Great rate just to get people reeled in. However they can't deliver it at DOCS. Or even worse it's an option arm or they use your money to buy down the rate. So if you want straight answers and NO suprises at signing email me and I can see what I can do for you! I know you have already done the shopping but is it in your best interest to save money???
2007-03-08 15:10:17 · answer #2 · answered by peapod_mommy 2 · 0⤊ 0⤋
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2007-03-08 16:31:43 · answer #3 · answered by marshae 1 · 0⤊ 0⤋
Well your score alone is excellent. Good enough to qualify for some of the best rates, hers however is on the very low end of average. If they average the scores you will get a score around 672 which is probably good enough to quailify for prime in most banks.
My guess is anywhere from 6.2-6.8% would be about right.
2007-03-08 12:51:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋
For a 30 year fixed, expect about 6% to 6.25%. Rates do fluctuate.
An ARM will be lower, but runs the very real risk of going up.
2007-03-08 12:57:21 · answer #5 · answered by Jay 7 · 0⤊ 0⤋
5.75 - 6.5% depending on your approval level and other factors like income, assets, and amount of down payment. Give me a call and I'll let you know. We have hundreds of lending sources to choose from.
2007-03-08 14:27:44 · answer #6 · answered by mortgageguy 2 · 0⤊ 0⤋
it depends. but ya'll have very good credit score's. send me an email i may be able to get you a better deal then what you get pre-approved for. cmruffin@bloomu.edu
2007-03-08 13:10:46 · answer #7 · answered by cmruffin1 2 · 0⤊ 0⤋
the going rate is 6.5 for 0 pionts...but if this helps you can go to a bank site and see what the they have as their rates.
2007-03-08 13:27:31 · answer #8 · answered by Anonymous · 0⤊ 0⤋