Some cool chateau photos:
Le château d’Amboise (Indre-et-Loire)
Image by sybarite48
Château d’Amboise (37)
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It's Our Interest: The Need to Reduce Student Loan Interest Rates
Reduced student loan costs boost the likelihood of repayment while also stimulating the economy by freeing up income that can be used and spent in other sectors of the economy. Refinancing even just those federal student loans with an … Borrowers …
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Terri Ludwig, prescription Social Entrepreneur: Generosity is Contagious
From 2002 to 2009, Terri served as President of the Merrill Lynch Community Development Company, where she led community development, committed more than $ 2 billion in loans and investments, launched a successful social investment platform for Merrill …
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Question by acvader: What kind of mortgage rate can a borrower expect to get with a credit score in the range of 661-669?
Professionals please answer. Any website links with more information would be appreciated.
Best answer:
Answer by just common sense
It will depend upon the lender and the type of loan (conventional, more about VA, FHA, etc.)
Your credit score is not bad for a home loan. ALWAYS shop loans. Do not waste your time doing this on the internet; you will have so many hits against your credit report that it can actually knock your score down 100 points or more!
Contact several lenders in your area, by telephone or in person, and ask to speak to a loan officer. Tell the loan officer the details of your credit score, anything negative on your credit report, what type of loan you are seeking, and ask what the current rate is for that day. Interest rates fluctuate daily. Ask them if, based on the information you’ve given them, they would be likely to approve you for a home loan. If they demand to run your credit report, tell them you are currently only shopping rates and you will contact them again when you are ready to have your credit report ran.
If several lenders run your report at the same time (NOT lenders over the internet, remember!), then your score will not drop so much as it will be obvious that you are looking to obtain a mortgage loan and you are shopping loans.
Ask each loan officer what the policy of their Company is for “locking in a rate.” If you don’t know what that term means, ask the first lender; they can better explain it. In short, most lenders offer a certain period of time once you have been approved where you can “lock in” a good interest rate. It’s a bit like gambling. Do you, for example, take today’s interest rate ~ let’s say it’s 5.75% ~ and lock that rate in or do you wait for a lower rate? It is *possible* for the rates to go down, but it is also possible for them to go up. Your loan officer should be able to best guide you on what they believe the rates will do over the next day or so.
You will also want to know how long the locked in rate is good for: is it good for a week? 10 days? 15 days? This tells you how much time you have to find the property you want, have a Contract written by a real estate professional, and make an offer.
Once you have found your lender, obtain a pre-approval letter. You want a letter to show to your Real Estate Agent that you are pre-APPROVED; **NOT** just pre-QUALIFIED. Being pre-approved is almost like having cash in hand and this makes you a more attractive purchaser to someone who is selling. Then look for the property that is perfect for you.
Add your own answer in the comments!
Question by JohnPau2010: Does the home loan interest rate vary between online quotes and the real ones ?
– I am planning to buy a home
– i have put an offer on a house and almost 100% done deal
Now I have to look out for a home loan. I am looking at several online interest rate quotes what lenders are giving based on my facts.
Some of them are sending quotes for 4.78% 4.5% , sick now does these rates change when we actually sign there application or do they have to stick with the rates what they have quoted me online ?
Best answer:
Answer by Steve D
The rates will vary right up until the time you lock in. The rates online are not considered legally binding offers, pharm just an indication as to what the rates were at the point in time the page was updated.
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Question by Kev: How can I shop for best mortgage rate without paying the application fee each time?
I’ve looked at different mortgage rates on the internet and newspaper. But these rates are generally just a range and not specific to a credit score. My credit score is OK, and I expect my rate would probably would fall somewhere between the high and low rate usually listed.
I tried to see what my rate would be at my bank, but they were charging an application fee of 100 dollars. Will that be the case each time? I’d like to “shop” around before I actually have to pay any fee. Thanks!
Best answer:
Answer by William
You can “shop around” all you want, but no quote will be binding at all until you have a signed purchase contract for a house, apply for the actual loan and lock in a final rate. Rates fluctuate on a daily basis.
Give your answer to this question below!
All you are going to find on line is an estimate. To have a factual rate, you’ll need to apply with a lender and select the loan program that bests suits your financial goals.