2007-05-06 11:05:55 · 2 answers · asked by M 1 in Business & Finance ➔ Renting & Real Estate
This varies from location to location and what programs are available. Probably you best source of overall information will be from a realestate company. They normally keep ,up to speed on all of the available programs and what interest rates are for different types of loans.
2007-05-06 11:21:45 · answer #1 · answered by ttpawpaw 7 · 1⤊ 0⤋
The interest rates for first time home buyers are actually no different than they are for those who have previously owned homes. Your rate will be determined by a variety of factors, including your credit score, your income level vs the price of the house you wish to purchase, and the amount of downpayment you are able to provide. These are just a few of the criteria used by mortgage underwriters to determine which rate scale you will be asked to pay.
Contact a qualified mortgage lender/broker for further advice, and be prepared to provide appropriate financial information which can be used to make such a determination.
2007-05-08 13:23:47 · answer #2 · answered by acermill 7 · 0⤊ 0⤋