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farnaz2 · Joined: 07 Jan 2008 Posts: 1 1.33 Dollars($)

what is the best rate for mrtgage right now?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

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

Posted: Mon Jan 07, 2008 6:35 pm Post subject:

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

ezmortgageloanz · Posted: Mon Jan 07, 2008 6:36 pm Post subject:

My apologizes---that was my post above...

Regards,

Scott Miller

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

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

evolovik26 · Posted: Tue Jan 08, 2008 8:10 am Post subject:

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.

gmakerley · Posted: Tue Jan 08, 2008 9:45 am Post subject:

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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