Profile picture for bigtim40

Im a first time home buyer my rate is 5.25%.My question is do you think that rate is a little high?

  • July 06 2010 - Groves
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (4)

There are a variety of factors that affect the rate you get, so it is impossible to tell from the info you posted.  You might try posting your scenario in the Zillow Mortgage Marketplace and see how the quotes you receive compare to what you have.
  • July 06 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Is this a 203k FHA? Typically FHA rates would be the same if you have a 680 credit score or 750.  Anything between the 620-640 range there would be a hit in the rate or cost.  Do you know what your loan amount and credit score currently is?

  • July 06 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

It does sound high.  When did you lock in?  What is your score? Feel free to contact me.  I only work in PA but I would be happy to make a recommendation to someone who could possibly do better for you.

  • July 06 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I'm here in the Houston area; and rate seems high - unless there are some factors that are not detailed here.
Current 30 year rate I'm quoting is less than that.
Suggest you get rate quotes through the Zillow request for quote system (highlight Mortgage and go from there) or feel free to contact me as well.
Note: our underwriting requires a minimum 620 score on all borrowers.
All the best to you,
- Al
  • July 10 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.