tried 53 bank so far but their rates just didn't seem reasonable. Thanks.
2007-03-09 03:16:07 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
My credit scores are in the 700s
2007-03-09 03:34:14 · update #1
Check credit unions they offer very low rates. I pay 3.9% thru my credit union.
2007-03-09 03:19:08 · answer #1 · answered by romettifamily 2 · 0⤊ 0⤋
Where you go almost does not matter when it comes to the rate.
What does matter is your credit score. The down payment, the loan amount and other loan terms can also impact the rate to some degree.
If you have tried 53 banks and the rate is too high it might be that your expectations are out of line with the mortgage market. Or that there is a specific credit issue that is causes lenders to view you as high risk so they want a high rate.
2007-03-09 03:25:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
are you crazy? Ever one of these banks must pull your credit. So your scores are in the dumper. Stop it right now. It will take up to 90 days for them to reset. Also Opt out of Credit offers by calling 888-567-8688 this should increase your scores by as much as 10 points. You are at this point a mortgage bankers nightmare. You will only get good rates with high scores. Your scores must be around 620 or greater to get conforming rates. You know the ones that are published in the papers! So every time your credit is pulled your scores could drop as muc as 2 points and I have in the past seen them drop as much as 100 points by this type of activity.
I am a mortgage banker in TN & KY
2007-03-09 03:26:14 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋
I'm guessing you mean 5th 3rd not 53 banks? I'm also guessing you are in the cinci area. I own several homes and always have used the same loan officer w/Countrywide in Milford. They usually seem to have the best rates i have found. I always compare w/several banks and savings and loans in the area before going w/countrywide, but always seem to end up there. Guardian is also a good bank to check rates.
2007-03-09 06:44:41 · answer #4 · answered by BACI 2 · 0⤊ 0⤋
im licenced for that state
please feel free to call me at 1-866-242-6689 ext.5002
ask for me, my name is Jennifer.
I can see what my bank can do for you if you'd like.
as an aside, the rates arent what they were 5-6 years ago,
youre best bet is to get an ARM or some kind of interst only
program ARM that will temporarolly give you the lowest payment possible. Good luck
2007-03-09 03:37:30 · answer #5 · answered by Jenster*is*flipping*you*off 6 · 0⤊ 0⤋
Stop! With all that credit checking you won't get any better rates than you were already quoted. I think your expectations may be too high, so please reconsider some of those previous offers. They are most likely better than you think.
2007-03-09 15:16:00 · answer #6 · answered by Dusty 7 · 0⤊ 0⤋