Fiance and I were qualified for this program 6.5% interest rate, fixed 30 yr, with no money down, and about 00 closing costs? Although we are going through the broker who is charging us .50% loan origination and the lender charges 1%? So, we have about 00 in loan origination. Isnt this too much?

I currently have a mortgage on my house. The mortgage is in my and my brothers name. I want to remove his name and put my wife on the loan. I am being told that i would have to go thru the entire mortgage process, pay closing cost and loose the low interest rate. Is there anything i can do?

While other kinds of mortgage payments have dropped in line with the interest rate, a fixed rate stays the same. Does this mean that whilst the payments are much higher, the amount of capital paid off each month is more. (its a capital & interest type)

My mortgage broker has told be that I am pre qualified for a home loan. He has told me what my interest rate will be. I’ve found a home, but know I should be asking more questions before closing. Can anyone help? I don’t want to get to closing and find out I could have done something to improve my interest rate or even worse cant close.

What can I do with my Interest Rate that is now variable? Now that my property decreased ,000, the monthly payment is now way higher, I don’t want to pay the mortgage anymore, and I can’t pay two houses at the same time, I don’t know what to do if I want to cancel everything is going to cost me about ,000, and the only choice I’m aware of is declare bankruptcy and my credit is very good, and I don’t want to do that, I need help.

dismissed bankrptcy 1X but then pd in full & discharged 1/06; have paid car loan 2 yrs never late (only current credit); i am with a debt correction company for only 2 mo & some things have been deleted. now have 626, 610 & 650 credit score. I am currently saving ,000 (hopefully for settlement). i make approx 18 mo gross & have a p/t job (0 mo-working 2 years). can i get a prime mortgage lender to finance a house (0,000), what interest rate do you think i would get?

If so, is it a good deal, did you get a good interest rate, what about refinancing fees, closing fees? Are the high? Are they a ripoff? Any info is helpful. Thanks.

Hi

I am trying to figgure out which is better long term, to pay extra payments on my loan or mortgage.

My loan started on 06/02/08 for £11,000 over 62 months with an interest rate of 6.55% = a monthly payment of £216.79

My mortage rate is 5.01% and i have an outstanding balance of arround £64,500

At present i have arround £150-200 fluid cash i could use to lower the balacnce on either of the above and wondered which one you would use the money to lower?

I am in search of finding a way where one can renegotiate with the bank of lowering our interest rate. We have 2 loans and want to combine and get a lower rate. Please help…..

I understand that some law prohibits mortgage lenders from giving ARM to people over certain age. I am 54 years old and I am struggling with this rate now. Someone told me I could use this fact to persuade my lenders to reduce my interest rate, or to move me to a fixed rate. Is this true?

I have checked with my bank, a mortgage broker, and another lender about getting a zero down %100 financing mortgage with no PMI. I have a better than average FICA score, and have a very low debt to income ratio. The best interest rate for a 30yr %100 financed fixed mortgage I rcvd was 7.5 (with lowest closing fees)
My friends and family insist I’m getting screwed over and should be getting a low 6 interest rate.
My question is should I expect a low interest rate when I have no money saved for closing, and no down payment? Does my rate sound normal for high my situation? Is 7.5 really that bad for %100 financing of fixed rate?
(I’m in Texas, 1st time home buyer, recent college graduate, single mother of three young kids—so unable to save a bunch of money)

I am in the process of getting a loan for a house. I do not plan to sell it.On the paper work I see checked "your loan does contain a variable rate feature. discloures about the variable rate feature have been provided to you earlier." It came with a booklet on adjustable rate mortgages. no where else in the paper work does it talk about a ARM. It has number of payments such as 24 @ 1,224.30 then 335 @ 1,249.77 and 1 @ 1,246.11.
So is the variable just meaning a change in payments listed above or that my interest rate and payments can change other then what is listed?
I specificaly told them I wanted a fixed rate.

I am currently pre-approved for a loan from a bank. However, I do want to see if I can get a lower interest rate with a broker. But when should I work with a mortgage broker? I haven’t found anything in particular that I like within my price range yet. So is it wise to work with a broker when I haven’t found anything yet? Should I wait until I have found something? Thank you for all your help!

I have had too many delays with the current mortgage broker I am working with, so I looked for another broker as backup. They are offering a lower interest rate and have pre-approved me-how do I tell the first one that I am going with the other lender?

I need to choose the best lender for a new home purchase that will provide me the least fees while giving me the best interest rate? Mortage banks tend to offer me fewer fees, but the rate is a little higher. Also, which is most efficient in doing the loan? I am doing a VA loan.

Hi,

My husband and I bought our home 2 years ago on with an adjustable rate mortgage. The interest rate has now come up and we need to refinance.

The problem is that our credit score is about 600.

Can we get a refinance? Our home is worth about 0K, we have K in debt, and we make about 0K per year.
Thanks Bob,

But we really can’t afford the extra costs. Our payment went from 00 per month to 80 per month.

What would the rate be for a credit score of 600?

My husband and I are scheduled to close on our first home on March 28th, so five days away. It is a 1,941 square foot home in Fort Worth, Texas. We were approved for a 15-year FHA loan at a 5.5% fixed interest rate. The builder had the house listed at 3,990 and said they were discounting it to 7,990 because they are trying to meet their quotas and their year end is March 31st. Our realtor and his wife are both in the real estate business. He is a realtor and she is a broker, so they are getting a big commission off this deal with the builder. The realtor is going to pay off apartment lease (0 per month and we have 3 months left), and pay two mortgage payments for us at ,511 and some change. We both have fairly low credit scores (mine 534 and my husbands 575), but we got 100% financing. They are rolling our closing costs, appraisal fees, etc. into the loan.

Does this sound like a good deal? Is there anything that sounds fishy?

I am searching for best interest rate for home i am buying.

1) Is it always good to go with a mortgage broker ? or just call the banks directly ?

2) Will i save some money if i go with a bank directly instead of a broker ?

Any advice ?

What interest rate can I expect on a mortgage loan with my credit scores?
Today I have 564 588 654…I am hoping to have my mid-score up 10 pts by tomorrow, and then i am applying for the loan with the bank. I want a fixed rate, 100% financing, 30 yr loan for 0,000. My income and debt ratios are good. I am closing on the Aug 6th. I have already had the house appraised at 2K, I am paying over K in closing costs, and the house has been inspected. This is my first home purchase, is there anything I am missing?

I ask because i have just used a mortgage calculator online and they have worked out this:

To borrow £100,000.00 over a term of 15 years at a monthly calculated interest rate of 4.89% gives:

Repayment Mortgage Monthly Repayment £785.08

and

Interest Only Monthly Repayment £407.50

Thanks for any help.

Bought my house about 7 months ago on a 100% financed mortgage with an unbelievably low interest rate, so I want to avoid refinancing. I don’t think i can do a home equity loan because I have little to no equity since i did the 100% finance. Any ideas? I need about 10000 - 15000 for new siding work.

I’m buying a ,000 house according to tax records for ,000, but want to get ,000 because it needs repairs. It shouldn’t really matter to the mortgage company how much I paid for it, because in the (extremely unlikely) event that my house was repossessed, they’d have a ,000 house to sell. Especially since I’m investing the extra money into it and doing the work myself. It would definately be worth well over 0,000 when I’m finished. I don’t want a home equity loan because I want just one payment with just one interest rate. My credit score is 702. I should be able to get a loan.

Doing 100% mortgage financing and have excellent credit rating. Don’t carry high credit card balance, but do carry one. Would paying the credit card off get me a better interest rate or would the only help be making a down payment and financing less than 100%?