 Good Real Estate Deal or no deal? |
| I just bought a property for $15k. The Tax assessment for its current condition is $63k. Six months ago a house on the same street sold for $68k. It needs some interior paint, floors refinished, and ... |
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 Mortgage??? |
| we are looking to get a mortgage, my husband is self employed and on a good income which is provable, i work part time so don't get alot so i know my wages wont be included. where is the best ... |
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 Is it okay to use credit cards to buy real estate? |
| I currently have good credit I would love to learn how to make more money.I contacted the real estate instition abouty finding a mentor to show me how to make money the cost 4 the mentor is $3775. ... |
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 Landlord question? |
| Due to financial hardship, I am having to sell a rental property I have in CA. The tenants did sign a year lease agreement in May. I am trying to work with them in every way possible. They have been ... |
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 When you have a yearly lease is there a way out from under neath it,if you decide you want to leave? |
Additional Details
say your boyfriend left and your unable bec of income coming in,can you break ... |
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| It is so disqusting we keep the spot clean we always take the trash out vacumm daily ,keep our food in large plastic tugs we live in the city in row homes and we cant keep them out we tried poison, ... |
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 Does a landlord have the right to walk into your home?..whether you are home or not.? |
| I was in my sons room and saw my landlord drive by. I then heard a knock on the door.( like 2 seconds later) I knew it was him but I couldn't get to the door in time. As I was (finally) walking ... |
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 Who is to blame for UK housing market decline? |
| I would say home owners being greedy, wanting unrealistically high and unsustainable prices, estate agents encouraging silly prices to get bigger commissions, banks being greedy knowingly lending ... |
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 How do I get a package if I live in an apartment? |
If I was to order something online to have sent here, would it just be left by the door if I live in an apartment complex? Ive never ordered anything while living in an apartment before.
-T... |
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 Can I buy a house? I am 24 creit score 700 and make 24k a year? |
But I am in school and have about 20,000 in student loans. I also owe 6000 for my car.
Can I buy a house?... |
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 Is my credit score too bad to buy a home??? |
| I am a 25 year old single male. I am looking to buy a new home next year and I recently checked my credit score to get an idea of what I would be looking at. My credit score was significantly lower ... |
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 Is it possible to list a house for sale with more than 1 realtor? |
| we have 3 friends in the biz, and don't want to offend any of them, so we'd like to have them each get a portion of the commission if possible. If state law would be a deciding factor, we ... |
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 Does my landlord have the right??? |
| The lease agreement on my house us up at the end of April. My landlord contacted me yesterday and said that they wanted to start showing the house to people at the beginning of April.I do not want ... |
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Justin | Is 7.4% APR a fair rate for $80,000 home loan with no money down? |
My credit score is 725 and I am a first time home buyer. I went to a local bank and was wondering if I could do better than 7.4%. Thanks. |
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Scott Drescher/PrimeLending
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Every other answer is wrong...APR is not your interest rate. Annual Percentage Rate is the total cost of the loan, not the interest rate cost of the loan. The total cost of the loan includes PMI, which is not in the rate but is certainly a large cost of a loan. In other words, if the PMI is 1% per year (which it is), it would comprise that amount of the APR, making the actual interest rate more like 6.4%, if you had no other closing costs - - but you probably do have other closing costs. Furthermore, if you have any other closing costs, they, too, would add to the APR while not adding to the rate. As for the simple interest rate, if your 100% financing is at 6.375%, which is close to what you probably have, ignore what others are saying about rates being lower. 100% financing also carries a higher rate than a 95% loan, so you're actually probably right at the market, not above it. In today's market, a 95% loan would carry a rate of around 6.00%, and a loan at 100% would carry a rate of 6.375% - - especially for loans under $100,000, which is considered relatively small and more expensive for a lender to originate and therefore, needing a higher rate of return to cover it. |
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Keep On Trucking
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It all depends, but you can probably do better. A lot of things will go in to your rate, though. Are you financing 100% of the home's value? Are you doing a no-doc or low-doc loan? Have you been with your current employer less than 2 years? Do you have any negative things in your credit history that appear but don't necessarily affect your score? Are you doing an interest-only program? If you answered yes to any of these questions, you might not be able to do much better than 7.4%. But, of course, shop around just like when you're buying anything else. |
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nap4gbp
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that rate is too high for such a small loan, chesk on line under home loans and you'll get a feed back on many of them, it should be about between 6.25 and about 6.75 and no more, if for less than 30 years it could be 1/4 to 1/2 percent lower. |
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Veritas et Aequitas ()
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My Goodness! I mean that's not bad but I know people with lower scores that have around 5%! Definitely shop around. |
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Mom of 2 great boys
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You can do MUCH better than that.
I have 5% and a little lower score than you. |
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Quillz
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i'm not sure exactaly, maybe, try asking around at other banks to see if one will give you a better offer or just ask your bank if its possible to get a better offer |
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irishbarfight
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With THAT credit score..I'd say YES! But..it also depends on the mortgage rates in your area. Mortgage rates can fluctuate greatly, depending on how much your D.P. is (if at all), how much the loan is, how old/new the property is..etc...etc...there are countless factors. First, I would definitely ask your mortgage adviser what the "formula" was that they used to come up with that APR. If you're not satisfied with their reasoning, there is nothing stopping you from seeing other financial institutions to get pre-approved. Also, have you looked into first-time-homebuyer programs that'll help you pay for closing costs, etc? Its a definite plus, and may just take enough pressure off of you so that if you absolutely CAN'T get a better rate, you wont feel the "burn" quite as much. Good Luck!! |
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tiger1943
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It depends on where you are. Many companys are much lower than that. Shop arround the net. |
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minnie
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well maybe you could get better |
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I love my baby boy!
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With a credit score like that, you should be able to get something at a better rate. However, 7.4% is a good rate. Just make sure it's a fixed 15 or 30 year mortgage, not a variable rate. |
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MUSCLES
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You can do alot better....My credit score was 626 and I was just 2 years out of a bankruptcy and I got a 30 yr FHA @ 6.5% with only a small amount down. Give Wells Fargo a call...they are a major mortgage company and offer competitive rates. Do yourself a favor and shop around. |
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BlackFace
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i think the dinosaur would beat the warrior by a long shot |
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amandafofanda66
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Shop around. |
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