what is the average APR  for mortgages?
414954
APR is a calculation derived by taking the closing cost of financing adding them to the total loan amount and dividing that loan amount by the loan term.\n\nFor ARMs the APR calculation according to TIL guidelines should be calculated according to a worst case adjustment scenario.  This means that the APR on a 30 year term 1, 2, 3, 5, 7 year arm or other adjustable product will have an APR of closer to 13%.  (This is obviously ridiculous, but it is what it is).\n\nThe APR calculation will be (technically) different for just about all loans.\n\nI think that what you are looking for is the average closing costs on a loan of a certain size without points.  Make sure you mention the particular state... Typically, a lender will be able to give you a rough cc estimate.
315536
I'm at Countrywide on a 5/1 arm at 5.125, but your loan is only as good as your loan officer.  Gotta listen to what your needs are and then everyone offers similar stuff - then it's how you qualify! good stuff!  I've been doing this for years.
446766
The APR is the required method used by the government that allows people to compare the combination of rates and fees offered by different companies.  The APR is always higher than the interest rate because it takes the fees for the loan into the calculation.  The APR is only used for comparison and will never again factor into the loan.  If they want to reduce the interest rate by paying points up front this is a way to compare the different options by looking for the low APR.\n\nMost people are fine with this expl. because you mention it is the governments fault that this crazy number is on the TIL.  Also you mention it will never again affect the loan after they close. \n\nGood luck this is the hardest question in all of lending.
121446
housing a.k.a mortgage payment
391470
http://www.a-loan-calculator.com/Mortgage-Calculator.aspx\n\nJust plug in the numbers.\n\nThere are many such sites out there. Just search Yahoo for "loan calculator".
602154
3 years ago variable loans eg. 3/1 ARMs and 5/1 ARMS had a significantly lower rate than 30 year fixed rates. If you were going to stay in a home for 5 years or less, a 30 year mortgage was very expensive compared to a 5/1 ARM.\n\nWe are now in an interesting period where 30 year rates and adjustable rates are about the same, and in some cases, where the adjustable products are more expensive than the 30 year fixed.\n\nThe simple answer therefore (not knowing your credit situation and other factors), is go with a 30 year fixed. The rate is no higher than the adjustables and I personally believe mortgage rates are going to hit record highs in the next 4 years.\n\nThe only caveat to the above is if your credit score is below 620 and above 580. You will then qualify for a sub-prime loan. The rates on these loans are higher because of the lower credit score. In this case, the 2/28 ARM can be much cheaper than the 30 year fixed. This is a good loan if you don't have great credit, but want to buy a home.\n\nThe intent is that you will refinance it sometime in the next two years when your credit is better into a lower cost, 30 year mortgage.
220275
Most brokers give you 3 days to accept the mortgage loan contract, however, your credit scores remain good with any banking institution for 30 days.  Meaning, any banking institution that you may apply to, will require your credit scores to be less than 30 days old.\n\nGood Luck and Prosper...;*!*;...
421325
This is a little known mortgage option, cause there's unknowns.  The index that the interest rate is following is hard to look up.  I would not take this mortgage.  A fixed 15 or 30 year is better.  If you need to take on an adjustible, try a hybrid 5/1 interest only.\n\nhttp://www.bankrate.com/brm/news/Drdon/20050916a1.asp
285738
If you are applying for a mortgage then your "Good Faith Estimate" from your mortgage Broker/Banker will show the APR on the loan including the points.\n\nIf you are asking the mathematical formula then it is the total expected interest to be paid annually divided by the loan amount, i.e. $10,000 in interest charges per year on a $100,000 loan would be 10%. Check out www.bankrate.com they have several calculators that you can use.
1093368
Go to mortgages.interest.com\nClick on calculator link on the left\nThey have different types of calculators including a comparison of 15 and 30 year mortgages.
59544
fixed:\npros - your mortgage payment stays the same no matter what the market does.\ncons - your mortgage payment stays the same no matter what the market does.\n\nIf the interest rates go sky high, you are safe with your relatively low payment.\nIf the interest rates fall through the floor, you are now paying a relatively high amount.  This is when you refinance.\n\nWith a balloon (aka arm) mortgage:\npro - you pay less per month for the term of the arm (1 year, 3 year, 5 year, 7 year, or 10 year), with a lower percentage APR with the lower year arms.\ncon - after that year time is up, the rate can jump as much as 2 percentage points PER YEAR.  Your low 4.3% loan can become 6.3% overnight...and 8.3% the next year!  Suddenly, you're swamped!\n\nIf you are buying a house and KNOW you will sell it in 5 years, get the 5 or 7 year arm.  You'll pay less per month, so you can save up for the next house (either via deposit or overpay the mortgage to get equity).\n\nHope this helps!
529046
I know that 15K looks like a lot, but what you should consider, kind of along the lines of the longer response below is your time line for the home.  If you are going to live in the home for a long time then you might want to check out a lower rate.  You can always check with a mortgage broker whom can run the rates and tell you how much you can save... I used a site called http://www.rezponze.com when I refinanced my home and got 3 different quotes that I could compare.  Ended up saving a boat load when I did it. I listed a few other sites that you can see rates live as well below. \n\nI would say that right now probably isn't the best time with interest rates rising.  I would probably wait it out till August who knows what the economy might be like then.  Best of luck...
1013897
Open your mind set beyond the last 4 years when interest rates were super low.  They are STILL low to people who have had mortgages 10-15 years ago when rates were 10%, 15% and even 20%.\n\nOnly people getting mortgages within the last several years think rates are high now.  Explain to them the long term history of interest rates.\n\nFind people with HELOC's and convert them to Fixed rate loans.\n\nAs mentioned previously, there are many people with 2/28 and other ARMS that are going to want to convert to a fixed rate.\n\nAttend a few Real Estate Investing group meetings.  There are always people investing in Real Estate.  Be there when they need you.  Don't start out being pushy, just get to know them and be there often.
162799
There is no average number of discount points.  Most lenders will offer anywhere from 0 to 3 points.  These aren't really "charged", either; YOU select and agree to the number of points. You're simply paying a premium for having a lower interest rate on the loan.\n\nIf you mean average mortgage interest rate, you can check here for rates in your area: http://mortgages.interest.com/index.asp?
684781
http://www.rba.gov.au/ChartPack/interest_rates_australia.pdf provides the cash rate for the last 15 years. I'm nowhere near an expert, but mortgage rates in Australia generally shadow (obviously above, rather than below) the underlying cash rate set by the Reserve Bank.\n\nI would suggest that some time spent on the RB Web site should give you some decent answers.\n\nCheers\nAlister\nhttp://www.marketscience.com.au
725338
Applying for a home loan isn't the problem. You can apply and get accepted rather easily.  The problem you will face is the interest rate.  The worse off your credit, the higher the interest rate.  Check around and don't take the first place that accepts you.
139549
your rate is 2.25 plus the treasurey index at the time of your adjustment. (yearly, every six months, etc.) I am a mortgage broker if you need to refi email me, I can answer all your questions.