home loan: What is your interest rate?
- 08/06/14 10:52 PM
What is your interest rate? On a popular website for shopping rates, this is the number one recommended question that a consumer should ask a lender when shopping for a mortgage (home loan). The website has over 13 million monthly visitors. It makes sense; agree on price first, right? Not so much, the mortgage industry is unique.
When buying a car, they don't check your credit or bank account before they quote you a price, so why is the mortgage industry different? The difference is that each home loan is built to order. For example, at a car dealership, you can buy … (0 comments)
home loan: FHA Loan in Collin County in Texas, how much do I need at closing?
- 08/03/14 11:09 PM
Fha Loan in Collin County in Texas, $200,00 home, how much do I need at closing? Bottom line please! There are three categories of monies out of your pocket that you will pay for at closing. Those categories are:
1. Down-payment for a conventional loan is 3.5%, which is $7,000. The down-payment on FHA loans could be anywhere between 3.50 to 25% of the sales price. The down-payment will be decided on your credit and how much money you have.
2. Closing Costs are generally around 2%, which is $4,000 The closing costs could be 0-5% of the sales price and are divided … (1 comments)
What is your interest rate? On a popular website for shopping rates, this is the number one recommended question that a consumer should ask a lender when shopping for a mortgage (home loan). The website has over 13 million monthly visitors. It makes sense; agree on price first, right? Not so much, the mortgage industry is unique.
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