Question by loks: how can I negotiate to lower my interest rate for a home loan with the loan officer?
what can I say for him to lower my apr for a loan? this is my first time applying for a loan and do not have experience negotiating to lower my APR any advise?
also he told me he can lower my apr by buying points
any help from anybody out there is appreciated.
he told me 6.5 is the best I can get but I can buy points to lower
I live in the state of texas is this the average APR? people with good credit? also FHA loans he told me I have to have the PIM
for the mortgage for the life of the loan? I was told once you reached 20% percent ownership you can get rid of it but he told me no because it was an FHA loan is this true?
Best answer:
Answer by DirectLendingPlanet
the best way to get what you want is to look elseware if he refuses to match your best offer go with the best one!
find anouther broker he is not being truthful or he is totaly incompentant Anyone with a little expirance would know this fact Its on the brokers test i am guessing yoru broker is not licansed! yes if you have PMI once you have 20% equity in your home it goes away! he is trying you get you in a loan where he makes the most money.
tell him you are going with anouther broker who got you 6% and no pmi he will either come down on the rte and fees if he doesnt look elesware. ask for a good faith estimate and see what you apr is that will tell you if he’s over charging you.
also look at the lender fees. It is in your best interest to shop around if you know your scores talk to a few people and see what they offer.
if your scores are above 660 your not getting a good deal !
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Question by Jason: What are the limits to mortgage interest deduction?
My wife and I current do not owe a mortgage on our house (~$ 600K). I am considering getting a ($ 400K) home equity loan / mortgage. Our income would easily support the monthly payment. My questions are 1. Will the interest from the $ 400K loan be tax deductible or is interest on cash-out loans over $ 100K not eligible for deduction (I’ve heard)? 2. Will points on this load also be deductible? Thanks.
Best answer:
Answer by ang l
it depends on what you are using the money for. if you are going on a vacation, cialis 40mg no. if you are fixing up your house, yes.
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