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 Subscribe
Joined: 16 Apr 2009
Posts: 1
1.52 Dollars($)
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 Posted: Thu Apr 16, 2009 7:08 pm Post subject: Mortgage Rate |
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| WHat rate should I expect with a 660 credit score and no points in New Jersey for a house costing $275,000 (with 10% or 20% to compare the difference) |
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Realgeni
Joined: 13 Apr 2009
Posts: 1434
99.77 Dollars($)
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| Posted: Thu Apr 16, 2009 10:03 pm Post subject: |
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Depends on whats your debt to income ratio?
If you are making 10% to 20% down payment, there is a good chance of you getting atleast close to current market rate of around 4.5% to 4.75%.
But will be based on yoru debt to income ratio. |
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jenkin7
Joined: 04 Jun 2007
Posts: 3429
Location: Hawaii
514.13 Dollars($)
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| Posted: Thu Apr 16, 2009 10:48 pm Post subject: |
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Hi Subscribe,
It is difficult to say what interest rate you should expect because it depends on various factors like your debt to income ratio etc. As Realgeni has mentioned, the amount of down payment you make also determines the interest rate. The more down payment you make, the lower the interest rate you can expect. Paying a few points upfront helps you lower the interest rate. |
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Garysnober
Joined: 17 Mar 2009
Posts: 455
15.40 Dollars($)
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| Posted: Fri Apr 17, 2009 12:51 am Post subject: |
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| Hi yes it is very hard to tell as different banks will tell u different things. Score is not bad but its not the best. With those numbers you shouldnt see anything over 6.25% in my opinion. |
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