2007-06-24 04:56:14 · 2 answers · asked by monique w 1 in Business & Finance ➔ Renting & Real Estate
A typical loan will cost you about 28% of your gross pay. They charge you about 6-7% interest.
2007-06-24 05:01:00 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
I'm not sure exactly what you want to know but if it is the current mortgage rate, that would fall into the mid 6% range.
Good credit will get you a small break, perhaps a 6.2% while bad credit will cost you. Of course "bad" is a relative term but if you can get a mortgage it could go to 8%or 9% perhaps higher.
Hint: Current rates are becoming unstable. I think they will only go up for a good while. If you are considering a mortgage, I would act as quickly as I could to lock in a rate.
Hope that answers your question.
2007-06-24 12:05:22 · answer #2 · answered by gimpalomg 7 · 0⤊ 0⤋