Additionally, is there a website, publication, etc where I may get the actual market rate for an area in US?
2007-05-10 03:16:55 · 4 answers · asked by Juantwothree 1 in Business & Finance ➔ Renting & Real Estate
Look in a Houston newspaper, or call some Houston loan officers.
The interest rate a person will get in buying real estate depends upon the buyer's qualifications and the property itself. Credit, debt to income ratio, down payment amount, size of loan, and type of property (residential, commercial, investment, etc.)
2007-05-10 03:59:20 · answer #1 · answered by teran_realtor 7 · 0⤊ 0⤋
The Fed rate doesn't have as much of an impact on Fixed residential loans as a lot of people believe. Mortgage rates are generally moved by the 10 year treasury (at least fixed rates are- adjustables are another story). Depending on qualifying factors (income verification, amount of equity in your home, etc) you're most likely looking at a rate of around 6% on a 30 year fixed right now.
2007-05-10 03:58:35 · answer #2 · answered by Nick Z 1 · 0⤊ 0⤋
Your in an area that depends on many factors, like credit, area, job risk, and more, but anywhere from 6.24% to over 12%
2007-05-10 03:19:41 · answer #3 · answered by jimmy b 3 · 0⤊ 0⤋
go ask your bank. seems like the stupidest thing to do is to ask someone whos not a professional banker to give you an answer, not to say there isnt any on yahoo but you can save your self some time over the bank.
2007-05-10 03:29:28 · answer #4 · answered by Anonymous · 0⤊ 0⤋