Who offers a low interest rate for home loans?
Go to a major loan institution or another
Realtors, have you ever been surprised how high your client's home loan interest rate was? How high was it?
Eek! lol... Thanks for answering!
A couple of times. Always when they had used a lender that I had never worked with. I have seen rates in the 8-11% range in the past several years.
Whats the best and quickest way to pay off high rate second loan on first home purchase?
I just purchased purchased my first home for $181,900. I put 10% as a down payment$18,400 plus $500 earnest money. I had only 10K on hand a had to borrow the other 8K from another lender. My question with the 10% down payment does that give me some kind of equity if so when can I refinance to get some cash to pay off the high interest 8K loan. Or could I get another loan at a lower rate and pay off the higher rate loan. I need some advice on the best way to go about this. Because we can handle the mortgage and the loan but want to get out of it as soon as possible. All serious suggestions are appreciated
You can refinance your mortgage any time that you would like in order to get rid of that high rate 2nd mortgage. You can either try to refinance both mortgages together into one or you can simply refinance the 2nd mortgage only. However, what you want to look out for is: 1. make sure you do not have a pre-payment penalty on your current loan that you are refinancing. 2. make sure the deal will actually save you money and is in your best interest 3. make sure you refinance to a fixed rate with the uncertainty of interest rates right now and for the next few years.
Tuesday, November 17, 2009
Thursday, November 12, 2009
What home loan interest rate can I expect?
Currently my FICO is 630, I have history of a bankruptcy 6 years ago, I make 80k a year, my only current debt is a 6k auto loan, oh and those dreaded 21k in student loans. I'm in California and 4 years ago I really wanted to purchase a home before the prices got to out of control but no bank would touch me despite a good career and down payment so my parents who had their home paid off got the loan for me and I've been paying the mortgage. Now 4 years later I'm ready to be an adult and do the right thing and get my home loan in my name even if it means a higher interest rate then the current 4.5%. With the equity I've established (my home is worth 380k and I owe 180k but thinking about borrowing 200k to pay the auto loan and do some home improvements) is it possible for me to get a decent interest rate with my train wreak credit history?
Why the rush? With a 630 FICO you'll be paying subprime rates which will be substantially higher than the 4.5% you are paying now. To answer your question, no you will not get a decent rate with a 630 FICO. Wait until the bankruptcy falls off your credit report and then refinance. In the meantime just keep paying your bills and keeping your credit clean as a whistle. Sounds like you are on the right track, good luck. BTW: Beware the answer than says in another year your bankruptcy will come off your credit report. Bankruptcies are reported for 10 years. In addition that poster doesn't know anything about the subprime lending market, the interest rates charged are substantially higher than you would get with A credit. Plus with a 4.5% loan currently the original poster would be nuts to go out and refinance with a subprime lender right now.
Currently my FICO is 630, I have history of a bankruptcy 6 years ago, I make 80k a year, my only current debt is a 6k auto loan, oh and those dreaded 21k in student loans. I'm in California and 4 years ago I really wanted to purchase a home before the prices got to out of control but no bank would touch me despite a good career and down payment so my parents who had their home paid off got the loan for me and I've been paying the mortgage. Now 4 years later I'm ready to be an adult and do the right thing and get my home loan in my name even if it means a higher interest rate then the current 4.5%. With the equity I've established (my home is worth 380k and I owe 180k but thinking about borrowing 200k to pay the auto loan and do some home improvements) is it possible for me to get a decent interest rate with my train wreak credit history?
Why the rush? With a 630 FICO you'll be paying subprime rates which will be substantially higher than the 4.5% you are paying now. To answer your question, no you will not get a decent rate with a 630 FICO. Wait until the bankruptcy falls off your credit report and then refinance. In the meantime just keep paying your bills and keeping your credit clean as a whistle. Sounds like you are on the right track, good luck. BTW: Beware the answer than says in another year your bankruptcy will come off your credit report. Bankruptcies are reported for 10 years. In addition that poster doesn't know anything about the subprime lending market, the interest rates charged are substantially higher than you would get with A credit. Plus with a 4.5% loan currently the original poster would be nuts to go out and refinance with a subprime lender right now.
Wednesday, November 11, 2009
What is the name of the calculator that tells you what you would pay a month on a home loan?
We call our calculator How Much Home Can I Afford, which does exactly what you are asking. Most calculators will make assumptions on credit and down payment, so make sure you talk with a mortgage expert to find your exact rate and payment.
Want to do some home loan calculating no businesses attached amortization calculator?
just want to see for myself before going to the bank
Is it hard for a single woman to get a home loan?
I am a first time home buyer and am in the process of doing research to ge a home loan. The online mortgage calculators I can find say rates are based on married, two dependent households. Because I have no dependents and all of my income would go toward my own expenses does that make me eligible for more than a married household that brings in equal income to what I earn?
Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.
Want to do some home loan calculating no businesses attached amortization calculator?
just want to see for myself before going to the bank
Is it hard for a single woman to get a home loan?
I am a first time home buyer and am in the process of doing research to ge a home loan. The online mortgage calculators I can find say rates are based on married, two dependent households. Because I have no dependents and all of my income would go toward my own expenses does that make me eligible for more than a married household that brings in equal income to what I earn?
Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.
Tuesday, November 10, 2009
Best bank for NRI home loan in India
Hiya, Can any one suggest me the best bank in India to apply for NRI home loan. As far as I know people seem to have bad experience with all private banks especially with ICICI and HDFC. So if anyone could suggest any bank I can go for would be much appreciated.
NRI's are eligible to take residential property in India. Different banks use different criteria for lending to NRIs, including the various mandatory aspect of financial lenders An NRI must have an account with the lending bank He should tend to earmark the deposit held in addition to the mortgage on the property Else all required documents are similar to those applicable to the local residential persons. The interest rate for the NRI home loans do not vary much from the the one charged for Indian citizens. But they could get their loan sanctioned for the shorter period of time. For a home loans, NRIs get only 85 per cent of cost of loan. Whereas, the loan-size depends on the refunding capacity of the borrower. The loans equivalent to 36 times of the gross monthly earning of the applicant may be issued. Banks like ICICI, Bank of Baroda, State Bank of India, HDFC etc. are some institutions offers fixed as well as floating interest rate for a tenure, ranging from three to five years.
Plz help me about this......Home Loan matter!!!!!!!?
One of my friend wants to bye a flat, she is single earning & Current CTC: 1,32000(per Year),do u think she can take Home Loan of 11,000000/-? She has PF, salary by cheque in HDFC, also have form-sixteen (from last year), not a big balance in account .She is doing job from last five year in same company. If it’s not possible can u plz tell me what she can do (about loan), she really wants to perches that flat. Plz help.
Most of the banks follows eligibility amount by 48 months take home salary. For example, your friend take home salary is Rs.10,000/- then she is eligible for 480,000/-
NRI's are eligible to take residential property in India. Different banks use different criteria for lending to NRIs, including the various mandatory aspect of financial lenders An NRI must have an account with the lending bank He should tend to earmark the deposit held in addition to the mortgage on the property Else all required documents are similar to those applicable to the local residential persons. The interest rate for the NRI home loans do not vary much from the the one charged for Indian citizens. But they could get their loan sanctioned for the shorter period of time. For a home loans, NRIs get only 85 per cent of cost of loan. Whereas, the loan-size depends on the refunding capacity of the borrower. The loans equivalent to 36 times of the gross monthly earning of the applicant may be issued. Banks like ICICI, Bank of Baroda, State Bank of India, HDFC etc. are some institutions offers fixed as well as floating interest rate for a tenure, ranging from three to five years.
Plz help me about this......Home Loan matter!!!!!!!?
One of my friend wants to bye a flat, she is single earning & Current CTC: 1,32000(per Year),do u think she can take Home Loan of 11,000000/-? She has PF, salary by cheque in HDFC, also have form-sixteen (from last year), not a big balance in account .She is doing job from last five year in same company. If it’s not possible can u plz tell me what she can do (about loan), she really wants to perches that flat. Plz help.
Most of the banks follows eligibility amount by 48 months take home salary. For example, your friend take home salary is Rs.10,000/- then she is eligible for 480,000/-
Thursday, November 5, 2009
Home loan interest rates options with bankruptcy in my record
What kind of home loan interest rate could I get with a bankruptcy on my record?
I have a chapter 7 bankruptcy on my record from 2003, but I have no debt and a credit score of about 700. And I have $20,000 for a down payment. If I got a home loan, would the bankruptcy make a huge difference in the interest rate? How big a difference?
I had a bankruptcy back in 2001. My husband and I bought a house in 2004, and my credit score was about 700 as well. We had no problem getting the low interest rates that were available at the time. You have a fairly large down payment too, so depending on the cost of the house you want to buy, you should have no problems getting the lower rates. I think the standard rate right now is about 5.5-6.5%.
Who has the best home loan interest rate for right now?
Who has the best home loan interest rate for right now? Please provide websites if you have them.
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
I have a chapter 7 bankruptcy on my record from 2003, but I have no debt and a credit score of about 700. And I have $20,000 for a down payment. If I got a home loan, would the bankruptcy make a huge difference in the interest rate? How big a difference?
I had a bankruptcy back in 2001. My husband and I bought a house in 2004, and my credit score was about 700 as well. We had no problem getting the low interest rates that were available at the time. You have a fairly large down payment too, so depending on the cost of the house you want to buy, you should have no problems getting the lower rates. I think the standard rate right now is about 5.5-6.5%.
Who has the best home loan interest rate for right now?
Who has the best home loan interest rate for right now? Please provide websites if you have them.
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
Tuesday, November 3, 2009
Best Indian Bank to approach for Home Loan?
Planning for Home loan below 20 Lakhs. Which bank to approach? Nationalized banks like SBI, PNB, BOB, IOB etc Pvt Banks like ICICI, IDBI, HDFC or some other firms like LIC Housing Loans.. Let me know the positive points for your answers and also rate above banks on ease of getting a loan sanctioned
All nationalized banks good. in private bank HDFC is good. LIC HFL is also good donot opt ICICI as you may not get back the original document mortgaged with them even after you closing full loan amount. and they will least bother to reply you also. there is a case pending in Madras Consumer court in this regard filed by an affected borrower.
Which is the home loan best in india 10 to 15 lakas in ajmer?
I living in uae dubai via nri a/c hdfc, sbi,oriantal bank of commerce etc please give me advice & please share your experience with me .
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. A sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
All nationalized banks good. in private bank HDFC is good. LIC HFL is also good donot opt ICICI as you may not get back the original document mortgaged with them even after you closing full loan amount. and they will least bother to reply you also. there is a case pending in Madras Consumer court in this regard filed by an affected borrower.
Which is the home loan best in india 10 to 15 lakas in ajmer?
I living in uae dubai via nri a/c hdfc, sbi,oriantal bank of commerce etc please give me advice & please share your experience with me .
Best home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizable difference in your savings, both on a long term and short term basis. However in order to get the best interest rate on your new home loan, you need to follow some tips. A sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you.
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