For new home buyers, what was your mortgage interest rate?
Bridex100
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For new home buyers, what was your mortgage interest rate?
We got rough quotes of 5.75% from one mortgage broker. I know rates used to be 5.5%. I was wondering what quotes other people were getting currently.
Shell84
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Re: For new home buyers, what was your mortgage interest rate?
that's about right, the rates are about 5.7 to 6.5 nowadays depend on your lender.
ETA: check out bankrate.com for best rates
KellyDance
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Re: For new home buyers, what was your mortgage interest rate?
That seems good! I got 6.625...but I have to go 1/2 percent higher because I own my own business and the do what's called a 'no doc check'. So, you seem right on! Careful with mortgage brokers...I used one and I wish I didn't. They keep telling you that you don't actually pay for them, that the bank does. Ended up my closing costs were almost 20,000...the guy totally lied to me!
ejm1219
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Re: For new home buyers, what was your mortgage interest rate?
Through the bank I am looking at about 6.25 now. I think that is what I am getting. I am not going w/ a mortgage broker b/c I heard so much horror stories!!! It also depends what type of mortgage you are going to get. I am getting a 30 year fixed rate hopefully
mishmosh328
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Re: For new home buyers, what was your mortgage interest rate?
My FH is a mortgage banker.....he said NEVER go to a mortgage broker unless you cant qualify at the bank. They will charge you 'points' and other things. FH knows a couple brokers that are really good and wont screw you over, but you def. have to be careful no matter where you go.
So if you need a mortgage banker or a broker that wont rip you off FM me.
Jennie0898
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Re: For new home buyers, what was your mortgage interest rate?
30 yr. fixed rate @ 7.25% DH owns his own business so we had to go with a no income check mortgage.
We went through a broker and didn't pay points...
Bridex100
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Re: For new home buyers, what was your mortgage interest rate?
The guy is a mortgage 'specialist' at Bank of America. The broker we met with today referred him to us. I don't know if a mortgage broker and a mortgage specialist is the same thing. He did not mention anything about point. I refuse to pay unnecessary fees.
