INTEREST RATES ON MORTGAGES?

dda

Hi all!

I am in the process of shopping around for a mortgage, and I was just curious what kinds of rates you are finding. I know that lenders are being more cautious now, but it seems to me that the 6.5% I was quoted earlier today is a bit high.

Thoughts? Recommendations?

brokerguy

Your question is a very general question and without knowing the specifics it is hard to quote a rate. Assuming you have good credit, can document your income, are talking about a single family home, can document assets/reserves, property will be owner occupied and a primary residence the Rate on todays rate sheets start around 5.5% on a 30 year fixed mortgage. Different variables would increase this rate but again without knowing more it is too hard to say. I am a mortgage Broker and if you have any questions I would be more then happy to answer them. If you could use some guidance in the process or even if your already working with someone and something doesnt sound right I can help point you in the right direction. Hope this helps.

flux

My friend just got a 417k mortgage for 5.25%. Credit score was around 720.

flux

My friend just got a 417k mortgage for 5.25%. Credit score was around 720.