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Answers (6)
- shapiroamg
- Contributions:3058
4.25 with the credit is decent today. Rates ticked up yesterday.
I would not trade a slighly lower rate for no credit.
I would not trade a slighly lower rate for no credit.
- Clay Branch, "Georgia Loans"
- Contributions:7835
The lower rate is probably 4.125% and the payment is only $9.63 per month lower, take the 4.25% and the 2 point credit. As far as the APR is concerned, you really do not need to focus on that. The APR will be about 5% and nothing you can do about that unless you have more than 3.5% to put down.
- ROLEXMAN02
- Contributions:10
To answer you questions loan amount is 132K, it is a Fha and a purchase. both of us are well over 700 score
- Marilyn Gibbons, "buyandsellnow"
- Contributions:2
As a former mortgage banker and a real estate agent I can tell you if you need the $2,700 for closing then that is your answer. If you have the $2,700 then go with the 4.19. Ask for the closing costs on each loan. Have the lender explain the APR? Annual Percentage Rate. Closing costs are considered part of the APR.
- mymortgagebrokerjoe
- Contributions:129
4.25 with 2700 credit is better imo
- Dave Skow, "daveskow"
- Contributions:1104
need much more info from you to answer this ...loan amt ? purchase? refi ? loan to value , of loan , your credit scores ....type of loan
if you are outlining a 30 yr fixed at 4.25% and getting $2700 credit towards costs ...I would say this is decent ......the lower option isnt much lower and costing 2700...breakeven point for the lower rate is a long time
if you are outlining a 30 yr fixed at 4.25% and getting $2700 credit towards costs ...I would say this is decent ......the lower option isnt much lower and costing 2700...breakeven point for the lower rate is a long time
Are we getting a good mortgage rate?
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