Question : What kind of interest rate can spouse and I get for home loan?
My husband has really good credit. He has a 780. Mine is not good. I made some mistakes when I was younger. Everything is paid for now but my credit is still suffering from it. We are getting ready to purchase our first home and I was curious as to what percentage interst rate we can get. The difference of interest rates is a big factor as to how much 'house' we can afford.Thanks for any help.
- asked by Charity R
All Answers:
Answer #1
You can get preapproved with some Brokers and theywill tell you.No one here will be able to tell youfor sure.
- answered by Bob
Answer #2
Maybe it would be best if your husband has thefinancial income on his own for him to justfinance the house. Your financing company willtell you what's best. Hopefully they can look atyour credit and realize it was something from along time ago. GOOD LUCK
- answered by Gertie
Answer #3
gee, it's so easy! just open up your sunday realestate section and look for the section onmortgage interest rates. find 3 local lendersthat have the same or very, very close rates andthe same charge (points). then call them. idon't think they will hold your old creditproblems against you since you have in fact paidyour bills. then get qualified for a mortgage,get yourself a reputable, experienced (no, not theone that makes a trillion each year incommissions, since she will really have no time tocare about YOU) buyer's broker/agent that canexplain this to you: "AGENCY." it won't cost youto hire a buyer broker--she will get paid out ofthe total commission paid by the seller when thesale is closed (and please, be loyal to the oneyou choose)! agency means that your interests areplaced way above her interests (making money). that means that she acts something like anattorney, who cannot and will not discuss yourcase with anyone else. a good buyer's brokerwould never tell the seller/selling agent that youwant "that" house so much that you will pay x morefor it than what your offer states, or make anyother concessions, even if you will, just to buyit. your buyer broker will always try to eke outprivate negotiating tactics from the dummy listingagents/brokers in this industry that do not give ahoot, so cannot, practice AGENCY. also, ask yourbuyer's broker to pull up the 2007 Code of Ethicsof the national association of realtors (r). askher to explain them to you, as they apply to you. go ahead now, get that house! it helps buildwealth. if you are old and need money, you canalso take it out of your equity in a "reversemortgage." and, this is the hugest buyer's marketi have ever seen as well as what the folks thattrained me ever saw!!!
- answered by Louiegirl_Chicago
Answer #4
Going rate for a 30 year fixed is 6.00-6.25% rightnow. You didn't mention if you have any downpayment, which will affect what you can get forrates as well, financing 100% of the purchase willgive you a rate .25-.75% higher. Alot depends onwhat your credit really looks like now too. Arethere still unpaid collections or chargeoffs? Wasit just some late payments a few years ago? Ifyour past is really past, it's likely you can goon the financing together and get normal ratesstill.
- answered by Yahoo Sucks
Answer #5
You are asking the wrong people. You shouldcontact a local bank, They will be able to tellyou what you qualify for.Good luck,Any advise herewill just be a guess.
- answered by frankie b
Answer #6
sounds like you have many options that would beavailable to you. if you have troubles in the pastbut have straightened everything out your creditmay not be as bad as you think.if you need to buyit in your husbands name alone that could be donetoo. if he has the income to qualify on his ownyou can get a loan (assuming you are putting downsome money) in the low low 6%'sif you are going todo it as a no income check loan or with no downpayment most likely low 7%'s.you can call1-877-OK-MONEY to get the exact rates and getpre-qualified for a mortgage with no cost orobligationin the meantime, i wish you the best ofluck
- answered by jeff s
Answer #7
If shopping for a loan/home, find out all of thedetails. Unfortunately, most consumers only knowto ask about interest rate/APR. Interest ratesare all over the place...you should ask if I pay Xamount of dollars what will my interest rate be? APR is another worthless question to ask...reasonbeing, APR takes into account that the value of adollar today, will be worth the same 30 years fromnow. If you think your income will not increaseand inflation will not occur, then ask away withAPR.
- answered by ryanwoodtlc
Answer #8
If you would like, email me for a pricing. Itlooks like you'll get a decent rate because ofyour spouse.
- answered by Phil H
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