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is 3.625 a good mortgage percent for 15 years mortgage

  • May 02 2012 - Whitehall
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    0Yes

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Answers (4)

What is your loan amount and are you having all closing costs and pre-paids paid by your lender. (What is the amount of credit you are receiving to pay costs.).  How long do you plan on keeping the home? If you plan on staying in the home and paying off in 15 years a no closing cost option might not be your best option. If you are not having the lender pay any costs than the rate is too high.
  • May 02 2012
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I would also add the question as to whether any closing costs are being covered by the lender.  All of these variables impact the rate. 
  • May 02 2012
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If you are talking about a >20% equity position in your home with >740 credit scores, I would tend to say NO.  A bit high.  But there is so much more that goes into the actual interest rate.

credit score
LTV
loan type
property type
income documentation
location of the home
etc

Feel free to reach out to me and I could give you a quote.
  • May 02 2012
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Need the loan scenerio to be able to tell.  Do you have the quote number?

  • May 02 2012
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