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how is the rate on buing a house

  • January 09 2011 - Hialeah
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Answers (2)

Your interest rate on a mortgage purchasing a new construction (builders home) or a resale will be the same. This all depends on your credit score and what type of loan your qualify or choose. 

However some builders offer to buy down your rate or offer discounted rates because the buy them in bulk. Consult with a good Realtor that knows the area you wish to move to and he/she can assist you with the benefits of purchasing a new home. Builders will charge you the same for a transaction with or with out a Realtor. It would be wise to have a professional represent you since it will not cost you anything. Happy home hunting!
  • January 10 2011
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The interest rate at 0 points on a purchase transaction may vary depending on your loan product (FHA vs. Conventional), your credit score (if conventional there are different pricing adjustments),  and the amount financed (their are pricing adjustments for different Loan-to-Values).  If you have excellent credit you are probably looking at anywhere from 4.625-4.875 without points.

  • January 09 2011
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