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| *Ostroff, Fair and Company>>>Renting & Real Estate |
My wife and I have FICO scores above 760 yet our mortgage broker offered us a rate of 7%. Can we do better? |
The estimate she gave us was based on a 30 year fixed loan amount of $140,000 with zero down. Yeah looking at my rate sheet, it looks like you can get about 6.625. It's possible however that there are other overlays, I don't know all the information. I can run the situation if you want. Source(s): Mortgage questions? Email me at scornwell@newworldfederal.com Zero down is the problem. you should still be able to get 6.5% or so, I would have them check other places, as well you should check Chase, WAMU, and others as well. HAVE U BEEN LOOKIG AROUND AT DIFFERNT MORTGAGE COMPANIES? I THINK U CAN DO BETTER. I DONT KNOW WHAT THE RATES ARE NOW....OR WHERE U LIVE BUT 6.5 SOUNDS HIGH TO ME. Yes u can do much better. I recommend u contact a few other mortgage brokers to get quotes from them as well. Many brokers work with different lenders meaning u could get better rates and mortgage's when u shop around but be careful, dont let them keep checking ur credit every time. To many inquiries on ur credit will hurt u. Me. 5+ yrs in the morgage business |
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