Zillow Advice RSS: Question-Discussion-Guide,Mortgage Rates, http://www.zillow.com/advice/United-States%253B%253B%253B%253B%253B%253B%253B%253B/mortgage-mortgage-rates/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate What % down payment--if no W-2s etc, but FICO over 770? http://www.zillow.com/advice-thread/What-down-payment-if-no-W-2s-etc-but-FICO-over-770/412590/ From who??????&nbsp; So you are trying to say that lender will give you a mortgage with an APR at 3.116 with no income verification? Sounds like a pipe dream ( crack pipe ). A word of advice, don't pay any money upfront...when you apply.&nbsp;<br \><br \>0 replies Sun, 21 Aug 2011 21:47:00 GMT http://www.zillow.com/advice-thread/What-down-payment-if-no-W-2s-etc-but-FICO-over-770/412590/ 2011-08-21T21:47:00Z can i obtain mortgage quotes for buying a premanufactured home in a co-op park? http://www.zillow.com/advice-thread/can-i-obtain-mortgage-quotes-for-buying-a-premanufactured-home-in-a-co-op-park/301747/ 1 reply Thu, 26 Nov 2009 17:10:00 GMT http://www.zillow.com/advice-thread/can-i-obtain-mortgage-quotes-for-buying-a-premanufactured-home-in-a-co-op-park/301747/ 2009-11-26T17:10:00Z apply for mortgage: credit union vs bank http://www.zillow.com/advice-thread/apply-for-mortgage-credit-union-vs-bank/449544/ I have been trying to compare mortgage rates from my credit union with those at banks.&nbsp; Both credit unions that I belong to provide rate sheets that list the rates for all of their mortgage products daily.&nbsp; All banks (websites and phone calls) refuse to give me that sort of info, and only provide apparently arbitrary instances such 30yr with 1.125 points and 15 yr with 0.875 points as examples on their websites.&nbsp; If I call them, they essentially want me to apply before giving me specific info.&nbsp; It makes it difficult to compare across banks and credit unions.&nbsp; The banks' unwillingnes to be open about the products they have available make me feel like I'm dealing with a shady used car sales department that's manipulating the numbers.&nbsp; I haven't even tried to get closing cost info from the banks yet, which I'm assuming will be even more difficult.&nbsp; What, if any, is the advantage of considering a bank over a credit union that is being more open with its information?&nbsp;<br \><br \>7 replies Tue, 03 Jul 2012 20:55:00 GMT http://www.zillow.com/advice-thread/apply-for-mortgage-credit-union-vs-bank/449544/ 2012-07-03T20:55:00Z Looking to refinance/rent out home and buy new. Bad idea for new rate? http://www.zillow.com/advice-thread/Looking-to-refinance-rent-out-home-and-buy-new-Bad-idea-for-new-rate/184750/ <p>Just the fact that you're doing a refi on an existing property and a purchase <a href="http://www.zillow.com/mortgage/">loan</a> on a new property in itself does not cause problems. I would advise you discuss w/ a competent <a href="http://www.zillow.com/mortgage/">mortgage</a> advisor your objectives and complete scenario before moving forward. New&nbsp;guidelines require 30% equity in existing primary residence for conversion into a rental for qualifying purposes on&nbsp;the new primary residence purchase. Too many things to consider. Consult your mortgage advisor. Happy New Year!</p><br \><br \>0 replies Sun, 04 Jan 2009 23:05:00 GMT http://www.zillow.com/advice-thread/Looking-to-refinance-rent-out-home-and-buy-new-Bad-idea-for-new-rate/184750/ 2009-01-04T23:05:00Z first time buyer looking for 5ARM on TOWNHOME / PUD with 5% down & LPMI http://www.zillow.com/advice-thread/first-time-buyer-looking-for-5ARM-on-TOWNHOME-PUD-with-5-down-LPMI/523454/ LPMI is still mortgage insurance. Only difference is it is in the rate so you don't see the dreaded "PMI" on your monthly bill. I would have whichever Loan Officer you use show you the benefits of both LPMI and BPMI, both as a single premium and a monthly premium. If you feel the home is going to appreciate, or you plan on paying extra towards the principal, I would not recommend LPMI.&nbsp;<br/><br/>Most lenders here would certainly like to help you, but you won't get any hard rates unless you submit an application with them.<br \><br \>0 replies Mon, 06 Jan 2014 15:20:00 GMT http://www.zillow.com/advice-thread/first-time-buyer-looking-for-5ARM-on-TOWNHOME-PUD-with-5-down-LPMI/523454/ 2014-01-06T15:20:00Z Ready to lock http://www.zillow.com/advice-thread/Ready-to-lock/190923/ <p>Also, I am definately not a <a href="http://www.zillow.com/mortgage/">mortgage</a> person. I am just a average working girl.&nbsp; So, I may be totally off track on my thinking.<br/></p><br \><br \>0 replies Wed, 21 Jan 2009 22:21:00 GMT http://www.zillow.com/advice-thread/Ready-to-lock/190923/ 2009-01-21T22:21:00Z what is the lowest interest rate for California as of 3/3/09? 30 year fixed. http://www.zillow.com/advice-thread/what-is-the-lowest-interest-rate-for-California-as-of-3-3-09-30-year-fixed/206319/ That cannot be answered because you have not given any specifics. Have you posted a <a href="http://www.zillow.com/mortgage/">loan</a> request? Click the <a href="http://www.zillow.com/mortgage/">mortgage</a> tab and then click "get custom quotes".<br \><br \>0 replies Wed, 04 Mar 2009 05:41:00 GMT http://www.zillow.com/advice-thread/what-is-the-lowest-interest-rate-for-California-as-of-3-3-09-30-year-fixed/206319/ 2009-03-04T05:41:00Z Down payment on a home. http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ What is a reasonable down payment to expect to put down when it comes to a condo VS single family house?<br/><br/>I am looking to either remain in the metropolitan NYC (Brooklyn, Staten Island, New Jersey) area or South Florida between Fort Lauderdale and Miami.&nbsp;Keeping in mind I would like to keep my mortgage under 1000.&nbsp;<br/><br/>I would also like to know how the process works. I see a property and I contact the number provided? or do I contact an agent. What do you recommend?<br/><br/><br/><br/><br/><br \><br \>7 replies Fri, 13 Sep 2013 04:54:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-09-13T04:54:00Z How do I chose a lender? Is there anything else I should base the choice on, other than the interest http://www.zillow.com/advice-thread/How-do-I-chose-a-lender-Is-there-anything-else-I-should-base-the-choice-on-other-than-the-interest/286380/ <p>Interest rate is only one factor on which you should be basing your choice of lenders.&nbsp; I recommend that you first inquire at the bank you currently have&nbsp; a good financial relatonship.&nbsp; If they have treated you well on your checking or credit card account, it is usually a good sign that they will treat you right on your mortgage.&nbsp;&nbsp; I have always been a bit shy of sending a bunch of financial information to someone in a different state, who promises that they can save me .5 % on the interest, but charge me a couple thousand more dollars in closing costs, and hours in frustration getting the <a href="http://www.zillow.com/mortgage/">loan</a> closed.&nbsp;</p><br \><br \>0 replies Thu, 08 Oct 2009 04:45:00 GMT http://www.zillow.com/advice-thread/How-do-I-chose-a-lender-Is-there-anything-else-I-should-base-the-choice-on-other-than-the-interest/286380/ 2009-10-08T04:45:00Z Chase vs. BOA, etc. http://www.zillow.com/advice-thread/Chase-vs-BOA-etc/270991/ Hi everyone.<br/><br/>I am going crazy over which bank to use. THe coop (in NYC) that I am getting is already on the list of approved buildings in the Chase database. For Bank of America and Wells Fargo, the <a href="http://www.zillow.com/mortgage/">mortgage</a> specialist told me that they have worked on the building before but the approval has expired.1. Does that mean it is definitely quicker to go with Chase?<br/>2. How do I ensure that I am getting a competitive rate with Chase?<br/>3. I have talked to the Chase mortgage specialist and he assured me that I will get a good rate. I also happen to be a Chase customer (credit cards, bank accts are all with Chase). Do you know if I can get some kind of discount since I am already affiliated with them?Any help would be appreciated!<br \><br \>2 replies Sun, 23 Aug 2009 12:33:00 GMT http://www.zillow.com/advice-thread/Chase-vs-BOA-etc/270991/ 2009-08-23T12:33:00Z Can I use FHA for a second home since I have 10% to put down? Is FHA as good of rate? http://www.zillow.com/advice-thread/Can-I-use-FHA-for-a-second-home-since-I-have-10-to-put-down-Is-FHA-as-good-of-rate/184779/ FHA <a href="http://www.zillow.com/mortgage/">mortgages</a> are for owner-occupied 1-4 family units only. You can not use an <a href="http://www.zillow.com/fha-loan/">FHA Mortgage</a> for 2nd homes or&nbsp;investment properties..<br \><br \>0 replies Mon, 05 Jan 2009 02:09:00 GMT http://www.zillow.com/advice-thread/Can-I-use-FHA-for-a-second-home-since-I-have-10-to-put-down-Is-FHA-as-good-of-rate/184779/ 2009-01-05T02:09:00Z Rate sheet for Realtors http://www.zillow.com/advice-thread/Rate-sheet-for-Realtors/381840/ Considering that Zillow provides a median mortgage quote trend rate chart on almost any page view, and that it has specific pages for other conditions and specific locations, and considering a quote can be requested anonymously at any time by any one, and considering Zillow has a quote request search page that one can look up similar quotes in the recent past for similar criterion without even requesting a quote, I see no reason for even a simplified rate sheet of any kind.<br/><br/>Now, what would be more useful is a chart showing the relationship of selected fees to rate adjustments, or for Zillow to provide separate trend charts for differing % fee ranges.<br/><br/>But Wayne is right; if the original poster wanted responses from Realtors&reg;, the question would have been posted under the "buying" category.&nbsp; Not that any of the responses would have been helpful as most of them have no idea what is on such a sheet nor what to do with it.<br/><br/>(And half the time, you can't even get the loan officers at a local bank to let you look at their rate sheets; they keep them confidential.&nbsp; Sure, they will post a rate on the wall to entice people, but with all kinds of disclaimers).<br/><br/>Besides, most people don't want their E-mail box cluttered with junk.&nbsp; And if it was just a summary table showing minimum qualifications for various programs, why wouldn't a sample table be posted on the question thread for review comments?<br \><br \>0 replies Wed, 26 Jan 2011 04:25:00 GMT http://www.zillow.com/advice-thread/Rate-sheet-for-Realtors/381840/ 2011-01-26T04:25:00Z How long should I wait for the mortgage rate to go down further? What if the price goes down again? http://www.zillow.com/advice-thread/How-long-should-I-wait-for-the-mortgage-rate-to-go-down-further-What-if-the-price-goes-down-again/178626/ When is the right time to refinance? I have been juggling with this question for a while now. My fear is what if the rates go down after I have refinanced. I would feel missed out if that happens.<br \><br \>12 replies Thu, 18 Dec 2008 16:08:00 GMT http://www.zillow.com/advice-thread/How-long-should-I-wait-for-the-mortgage-rate-to-go-down-further-What-if-the-price-goes-down-again/178626/ 2008-12-18T16:08:00Z Getting the Best Rates for Your Mortgage http://www.zillow.com/advice-thread/Getting-the-Best-Rates-for-Your-Mortgage/3123/ <wikipage><p>Naturally, you want to get the best deal for the least amount of money. This holds true for mortgage rates as well.<br/><br/>A lower interest rate means a lower monthly mortgage payment, which can save you money in the long run. Also, it is easier to qualify for a lower payment than a higher one.<br/><br/>You basically have two routes to finding the best rate. The first is to do all the research on your own. The second is to use a mortgage broker.<br/><br/><strong>Do-It-Yourself</strong><br/><br/>With the advent of the Internet, much of this information is readily available online. Once you have educated yourself sufficiently about real estate loans, all it takes is the time and energy to sift through online resources to find the information you need.<br/><br/>Rates change quickly. That great rate you find today might not be there tomorrow. Once you find the rate you are looking for, submit a loan application and lock in that rate.<br/><br/>A good source to find rates online is <pagelink type="zillowpage" dest="/mortgage-rate-explorer/United-States_30-Yr-Fixed-Mortgage_High-Credit_High-Down_1Mo-Span">Zillow Mortgage Marketplace.</pagelink><br/><br/>When comparing loans, make sure that you're comparing loans of the same type. For example, you find that "Loan A" for a 30-year loan has a much lower interest rate than "Loan B" (also for 30 years). Upon further inspection, you find that "Loan A" is technically an adjustable rate mortgage. Its payment is based on a 30-year amortization, but becomes due through either payment or refinancing at the end of 5 or 7 years. These are frequently referred to as a 5-year or 7-year fixed-rate mortgage. While both said "30-year", they are not the same type of loan.<br/><br/>Ask the lender for a statement detailing all fees associated with the loan. Factors such as "points" (loan fee), interest rate and "garbage fees" (extra fees which some lenders charge) can vary greatly from one lender to another.<br/><br/><strong>Mortgage Broker</strong><br/><br/>If you do not have the time or experience to "do it yourself," look for a qualified mortgage broker that can assist in finding the right mortgage for you. Ask friends and associates who have refinanced or purchased recently if they have a broker they can recommend. You'll want to find a broker who is energetic, flexible and knowledgeable about finance and loans and someone who has your best interests in mind.</p></wikipage><br \><br \>1 reply Fri, 24 Oct 2008 23:27:00 GMT http://www.zillow.com/advice-thread/Getting-the-Best-Rates-for-Your-Mortgage/3123/ 2008-10-24T23:27:00Z Is it worth paying 18 pts ($50,400) upfront to get a 0% 30 yr fixed rate, for a $280,000 loan? http://www.zillow.com/advice-thread/Is-it-worth-paying-18-pts-50-400-upfront-to-get-a-0-30-yr-fixed-rate-for-a-280-000-loan/384922/ <p class="MsoNormal">You need to talk to more then one Mortgage agent and to your accountant. This sounds a bit extreme. I know there are 5 and 7 year ARMS that will bring you better cash flow each month.</p><br \><br \>0 replies Wed, 09 Feb 2011 02:21:00 GMT http://www.zillow.com/advice-thread/Is-it-worth-paying-18-pts-50-400-upfront-to-get-a-0-30-yr-fixed-rate-for-a-280-000-loan/384922/ 2011-02-09T02:21:00Z Should I shop different Mortgage companys http://www.zillow.com/advice-thread/Should-I-shop-different-Mortgage-companys/572747/ 7 replies Mon, 19 Jan 2015 22:33:00 GMT http://www.zillow.com/advice-thread/Should-I-shop-different-Mortgage-companys/572747/ 2015-01-19T22:33:00Z Investment property mortgage rates http://www.zillow.com/advice-thread/Investment-property-mortgage-rates/560431/ My credit score&nbsp;is 800 and I'm in the middle of buying investment property with 25% down. So my question is&nbsp; 5.12 rate is the best I can get or should I check with other lender?<br \><br \>7 replies Wed, 24 Sep 2014 02:44:00 GMT http://www.zillow.com/advice-thread/Investment-property-mortgage-rates/560431/ 2014-09-24T02:44:00Z Question to Pasadenan. How to watch the rates? http://www.zillow.com/advice-thread/Question-to-Pasadenan-How-to-watch-the-rates/498853/ This is tough because rates have shot up faster over a short timeframe than is normal.&nbsp; Still rates are very good.&nbsp; All sources of online rate quotes will be delayed and outdated by the time you get them so this is not really a reliable way of monitoring this.&nbsp; It's best to talk to a good mortgage company and have them monitor this for you.&nbsp;<br \><br \>0 replies Tue, 25 Jun 2013 15:13:00 GMT http://www.zillow.com/advice-thread/Question-to-Pasadenan-How-to-watch-the-rates/498853/ 2013-06-25T15:13:00Z Hi Everybody :)....looking for some help!! http://www.zillow.com/advice-thread/Hi-Everybody-looking-for-some-help/535804/ <p>Sounds about right.&nbsp; You pay mostly interest up front on any mortgage.&nbsp; Hopefully you can refinance to a rate below 5% and turn your mortgage into a 15 year loan while keeping the same mortgage payment or less.&nbsp; Good luck.</p><br \><br \>0 replies Wed, 09 Apr 2014 19:59:00 GMT http://www.zillow.com/advice-thread/Hi-Everybody-looking-for-some-help/535804/ 2014-04-09T19:59:00Z Mortgage interest rate http://www.zillow.com/advice-thread/Mortgage-interest-rate/298721/ I am about to buy a second house. I have an excellent credit and high income. I applied for a conventional <a href="http://www.zillow.com/mortgage/">loan</a> and the <a href="http://www.zillow.com/directory/lenders/">lender</a> gives me the same rate that it is advertised on their website. Can I ask for a lower rate than what is advertised? What is the purpose of having an excellent credit score (790) if the same rate advertised for the public is the one you get? Please I need your help before I sign all those paper work. Thanks<br \><br \>19 replies Tue, 17 Nov 2009 04:27:00 GMT http://www.zillow.com/advice-thread/Mortgage-interest-rate/298721/ 2009-11-17T04:27:00Z