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Answers (10)
- Matt Hensley, "Matt Hensley"
- Contributions:13
Yourself and your neighbors all have different profiles - finding out an average rate of profiles that may not fit yours will not benefit you. Your best approach is to let several lenders make an offer to you based on your profile. This is how you get the best deal.
- Michael Ciavarini, "BostonMtgPlanner"
- Contributions:8
No the rate is not public record. What are you trying to accomplish? This is an interesting question.
- MoniqueU
- Contributions:114
current rates are 4% unless you have done a cash out in the past. then the broker or bank is capped at 3% in closing costs by Texas law. so depending on the loan amount will be the rate you get. if you have a 100,000 dollar cash out loan. then you will have to get a higher rate for the lender to pay your closing costs since back end money isn't calculated in the 3% law. if not, the lender will get stuck paying anything over 3%.
so call your state representative to help sposore a bill to get rid of texas's backwards cashout laws.
so call your state representative to help sposore a bill to get rid of texas's backwards cashout laws.
- mymortgagebrokerjoe
- Contributions:129
not that tight with your neighbors, are you? lol. even if u knew, what would you do with that information?
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:3427
Wait until the 1st of the month, then when the mailman comes, wait, never mind.
- wayne lancaster, "funds2"
- Contributions:1177
Better solution...... post a loan request (if you are looking to refinance) and you can "find out the average mortgage rate lenders are offering so you can compare".
- Bob Shallenberger, "FHA Refi Specialist"
- Contributions:22
You could just ask them if you are just curious. Chances are your neighbors have a higher rate than what is currently available on the market. It is likely that today's interest rate is lower than what your neighbors are paying.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3917
Your neighbors credit score and yours are totally different. To find out how you can get the best rate, talk to your bank, credit union or a loan officer.
I understand wanting to compare what your neighbor paid for their house compared to what you paid and in some states, comparing taxes, but not mortgages. People buy at different times, with diffferent mortgage rates. I hope that helps.
I understand wanting to compare what your neighbor paid for their house compared to what you paid and in some states, comparing taxes, but not mortgages. People buy at different times, with diffferent mortgage rates. I hope that helps.
- Ryan Halset, "RyanHalset"
- Contributions:730
Your neighbor's mortgage rates have nothing to do with what you may qualify for...so, no need to even compare.
- Lewis Poretz, "High Quality Advice"
- Contributions:219
This is what I tell anyone who asks me what today's rate is -
There is no such thing as "What is today's rate anymore"
Credit - loan to value - debt ratio - cash out are among the risk based price hits used when calculating a loan these days. And in most instances no two loans are priced the same unless it is a loan to value under 60%, rate and term refinance with a credit score over 740 - or in other words, no risk based price hits.
You can use this report from Zillow as an overall guide - click here but remember, this is just a guide.... I know this is confusing but keep asking questions, find yourself an experienced mortgage banker to work with and I chances are good you will get a great deal.
There is no such thing as "What is today's rate anymore"
Credit - loan to value - debt ratio - cash out are among the risk based price hits used when calculating a loan these days. And in most instances no two loans are priced the same unless it is a loan to value under 60%, rate and term refinance with a credit score over 740 - or in other words, no risk based price hits.
You can use this report from Zillow as an overall guide - click here but remember, this is just a guide.... I know this is confusing but keep asking questions, find yourself an experienced mortgage banker to work with and I chances are good you will get a great deal.
Is there a way I can find out the average mortgage rate my neighbors are paying so that I can compar
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