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 farnaz2
Joined: 07 Jan 2008
Posts: 1
1.33 Dollars($)
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 Posted: Mon Jan 07, 2008 6:11 pm Post subject: bet rate |
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| what is the best rate for mrtgage right now? |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.61 Dollars($)
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| Posted: Mon Jan 07, 2008 6:27 pm Post subject: |
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Hi Farnaz,
Welcome to the forum.
Now I think you can get 15 year fix rate mortgage at almost 5.25 to 5.50 percent interest rate. You may get even a better rate but have shop a bit for that.
Feel free to ask if you have any further questions.
Best of luck,
Larry |
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Guest
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| Posted: Mon Jan 07, 2008 6:35 pm Post subject: |
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Best rate for what---a owner occupied, second home or investment property?
Best rate doesn't always equate to best loan program for your needs---case in point, you can still get an option ARM with a min. interest rate ranging from 1.5%~2.00%, but I wouldn't recommend it to anyone but the most savvy...
PAR rates for full doc/A borrowers can be had at:
15 YR FXD @ 5.00%
30 YR FXD @ 5.50%
Regards,
Scott Miller
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ezmortgageloanz
Moderator
Joined: 06 Apr 2007
Posts: 124
Location: National
37.57 Dollars($)
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| Posted: Mon Jan 07, 2008 6:36 pm Post subject: |
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My apologizes---that was my post above...
Regards,
Scott Miller
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National FHA Mortgage Broker
www.BadCreditMortgageMakeover.com
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lisascherzer
Joined: 04 Jan 2008
Posts: 755
1.11 Dollars($)
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| Posted: Mon Jan 07, 2008 9:23 pm Post subject: |
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A 30 year mortgage is the way to go right now since fixed rates are almost as good as adjustable rates and sometimes even lower depending on the perameters. For a single family home with excellent credit, the best 30 year fixed rate as of today is 5.375 edited to remove solicitation
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Allpointe Mortgage
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evolovik26
Community Experts
Joined: 15 Aug 2007
Posts: 538
Location: Minneapolis
28.93 Dollars($)
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| Posted: Tue Jan 08, 2008 8:10 am Post subject: |
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ok ppl the best rate is to pay with cash
there is no best rate
its all dependent on individual case
I can get you a 4.75 on a 30 yr fixed today but the question is do you want to pay 5% of the loan ammount in discount points?
And who is to say that tomorow rates wont be better no matter what you get today.
The best rate/program/deal is the one that makes sence and is affordable to you.
If you can get 5 million dollar loan at 3% is it a great rate? Sure but can you make the mortgage payment?
Its a case by case basis. You will pay exactly the same ammount of money on a 30 yr loan at 5% rate as you will on a 5yr loan at 30% rate. Rate doesnt do anything its just one of the factors that comes into play.
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Eugene Volovik
Home Loan Consultant
Countrywide
612-481-3127
Conventional, FHA and Commercial Lending in 48 states |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 9757
Location: bloomfield, ct
36.38 Dollars($)
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| Posted: Tue Jan 08, 2008 9:45 am Post subject: |
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thanks for the sanity eugene...i agree that the best rate is the rate that works for the specific person on the specific transaction.
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George M. Akerley
Loan Consultant
860-221-5044 |
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