What's New in Mortgage Lending

What’s today’s interest rate on a 30-year conventional loan? The answer: You tell me your credit score, and I’ll be closer to quoting you a rate. With all the bad news about mortgages and foreclosures, lenders have changed the rules and made it more difficult to obtain a loan. Many programs have disappeared altogether and interest rates are now very directly based on your credit score (FICO). Here’s a breakdown; the rates decrease with each level your score increases. Don’t carve this in stone; it might change tomorrow!

Below 580 (not likely to get a loan)

580-619

620-639

640-659

660-679

680-699

700-719

Above 720 (gets the best rates).

Posted by Sylvie Shurgot on 07/27/2008 01:46 PM

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mortgage, interest rates

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Real Estate Agent: Sylvie Shurgot (Alamo Real Estate Brokers)

Sylvie Shurgot
San Antonio, TX
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Alamo Real Estate Brokers

Office Phone: (210) 380-8681
Cell Phone: (210) 380-8681
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Real Estate, Mortgage, and living locally in the San Antonio area.

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