what is the current mortgage rate for 30 yr fixed?
924411
Depends upon what kind of a credit risk you are and how much you want to spend in discount points to buy the rate down.  I've got anywhere from 5.5 for A paper borrowers with about 2.5 points on up.  Par rate for A paper (i.e. no points) is about 6 if you've got 20% equity and can prove you make enough.
653223
sounds pretty good to me\n\nthe national average for a 15 year loan is currently 5.85%
144452
http://www.bankrate.com/brm/rate/high_home.asp
750725
20 percent.\n\nGet a 15-year fixed mortgage for the rest.
398640
210,000 is 88% of 238,636.36\n\n206,800 is 88% of 235,000\n\nIf your offer is 210,000 and the appraised value is 235,000 any lender will loan money based on the fact the value of the property exceeds the purchase price.\n\nWill the seller accept the offer?  There is no way to tell as this would be the seller's personal choice.\n\nI am not understanding where the 88% calculation matters.  If your contract specifies that the offer is contingent on the sales price being at least 88% of the value, then you are fine because 210,000 is 89.36% of the value of 235,000.
145393
That all depends on your credit, the LTV, what hits you are going to take, the type of loan you are looking for, whether or not you want a prepayment penalty, and so on. \n\nIf you have a FICO in the 700+ range, and you are doing a full doc loan on a primary single family residence, with a 30yr fixed term you can expect between 6.125 + 6.625.
601069
what is the current rate?
612266
If you have Excel, try this formula.\n\n=PMT(.178/12,36,2494)\n\nArguments are nominal interest rate divided by twelve, 36 months, loan value.\n\n$89.91 monthly payment
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.
66930
Yes there is but I can't remember it off hand.\n\nThe best place to go and be able to calculate it out is morgage websites.  They have all kinds of mortage calculation tools to use.  \n\njust go to yahoo search and put in "mortgage calulator" and it should bring up a few that are good.
608479
As a branch manager for a direct lender/brokerage, I would stay away from the 2/28 at this time.  We may have more rate hikes, hindering you from refinancing in 2 years due to whats called payment shock!  It is a risky loan at this time as nobody knows if rates will decrease. You will be fine to refinance in 2 years; at the going rate at that time.. The 2 year fixed is a way for that loan officer to earn income off of you two times.  It may not be the best program for you after seeing your hesitance.  Email me at ryan.wood@truelend.com for other options.
751344
This is an open ended question and can not be answered. Rates varied from 8 - 10% depending on multiple factors.\n\nI write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
239189
It's not easy, and without more information I cannot give you direct advice. But visit the mortgage Professor - you'll find a link to his website on mine.\n\nSee source pages below.\n\nGood luck!
295967
Another simple way to address this is to get a normal mortgage (fixed/30yr) and make certain that there are NO PREPAYMENT PENALTIES.\n As long as you make the monthly payments, you can pay it off at your speed.
658369
There are some really good answers here.\n\nAs a former mortgage loan officer I would add to shop for your mortgage.  Your Buyers Agent will probably have their favorite lender but don't let them bully you on this.  \n\nPull your own credit bureau reports from all three national bureaus, (Experian, TransUnion, & Equifax) before you start the process and be sure that everything is reported as it should be.\n\nTake the credit reports with you when you visit different mortgage brokers or banks.  Don't let them pull new ones until they have Pre-qualified you (using yours) and you are ready to proceed with them as your lender.\n\nUnderstand that there is REALLY no such thing as a no closing cost mortgage.  The question is how you pay them.\n1. The lender can pay them but they do so out of what is called Yield Spread Premium--this is extra money their money source pays them for delivering your loan at a higher interest rate.\n2. You can pay them out of your pocket, mostly at the closing table.\n3. They can in some cases be rolled into the loan--this particularly applies in refinances.\n\nThe best choice for you depends on how long you plan to be in the home--or at least in that loan.\n\nThe way rates are trending now do NOT even think about any type of adjustable rate mortgage--you will live to regret it if you get one now.  TELL them Fixed Rate or nothing!!!  If rates improve enough in the future you can always refinance.  But with a fixed rate the only thing that can change is your property taxes and/or your home-owners insurance.  Your Principal and Interest payments will stay the same.  \n\nIf you can afford to do so get a 15 year fixed rate mortgage rather than a 30 year (by far the most common.)  Have the mortgage guys show you both and then play with the calculator.  The long term savings are enormous.  Just don't over extend to get it.  \n\nBe smart and buy below your limit.  I you don't live below your means you will never prepare for retirement.
766043
On a thirty-year term, the principal & interest payment would be $1,239.92.  Don't forget to add taxes & insurance to the equation when determining what is affordable for you.  And, keep in mind, if its affordable, and you'll be in the home long term, consider a 20-year term at $1,461.74 a month PI.\n\nI use a financial calculator, but here's a site you can use to run a bunch of different scenarios...
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.