I do not need help with down payment but I would like closing cost paid. I understand if you are an employee at the bank, your closing costs are paid for you. I am not an employee of the bank, but would love to have help with closing cost. Also is the interest rate the same for someone who has poor credit?
New home being built. Where do I find the best loan? I have FICO score over 750 and I am 1st time home buyerstudent loan consolidation
i have to agree with the majority on this one WAMU has the best prime/and sub prime rates right now, also last time i checked they had construction loans at 1% (i may be wrong) and no the rates will not be the same for someone with poor credit people under a 600 score that go sub prime are getting between 9-10%
New home being built. Where do I find the best loan? I have FICO score over 750 and I am 1st time home buyer loan
I%26#039;ve always been very happy with Washington Mutual. They even allowed me to do a split closing once and let me close on a property out of area instead of having to go back to where the property was to close. Very nice company to deal with.|||you%26#039;ll get the best avail rate with your score - many diff mortgage plans out there including rolling in closing costs - just find a broker who deals with many mortgage companies and he%26#039;ll find the best plan for you|||If you have excellent credit, make enough income and you are a first time home buyer...
You can get a government loan. It will let you finance 100% and include closing costs.
Look for your state%26#039;s website. Look under rural developement home loans, (state)|||Go with Washington Mutual. They are #1 across the U.S. in newly built home loans. Regarding the closing costs, just bargain with them, usually something will be worked out.
The interest rates for someone with bad credit are much, much higher. Your score is great and I don%26#039;t see you having any issues at all.|||i am going to assume you have been keeping up with the news about the rocky road the mortgage companies are traveling on. don%26#039;t advise going to any of the failing ones. best advise i can give you are in a great position = wonderful credit and ample down payment -- do it just like you did your home builder or when you buy a car. shop around.|||there is a sprecial program for first time home buyers at
www.restructureyourmortgage.com|||If you want your closing costs paid then you should have negotiated this up front with the builder. You may want to talk with them about it now if it is a concern of yours. There are many programs out there.|||After almost a year of doing my %26#039;homework%26#039; on the whole mortgage thing, I finally settled with a hometown bank where I live. Bottom line is this. All banks as well as mortgage brokers deal with the exact same rates. It is your job to get the best rate out of them. Some banks or brokers will give you a great rate, then charge you an arm and a leg in closing costs. I don%26#039;t hear very often of lenders paying your closing costs, but you might negotiate with your builder on that. If you do pay closing costs, here are some things you definitely should NOT pay for: Documentation Prep Fee, Administrative Fees, credit report fee, and underwriting review fee. That%26#039;s all junk, and in no circumstances should you EVER pay for these fees. Also, my husband works for JP Morgan Chase and our closing costs were not paid for. I think that just depends on the bank. To your question on interest rates and credit: the better the credit, the better the interest rate. One more piece of advice: when I was shopping for rates, they wanted me to do an application and then give me my info. It got long and drawn out, and I finally learned to just tell the lender my credit score and my financial situation, and let him know how much I wanted to spend in closing costs. They can give you a rough estimate over the phone. P.S. if you do end up paying closing costs, you should not have to pay more than $1500...good luck to you.|||I%26#039;d like to disagree with Anne G on everything she said except for the fact that she said to pay attention to fees associated with your rate.
1. Though most banks have similar rates, not all banks offer the same rates. As a general rule of thumb, if you work with a Washington Mutual, Chase, Wells fargo or other large bank, they will all be nearly identical.
2. Though it%26#039;s important to negotiate your costs, there is a reason why lenders would charge an underwriting, doc prep, credit fee... bank profit models are specifically designed to offer the lowest possible rate and only created profit from rate. Though some %26#039;brokers%26#039; are known to add junk fees on top of transactions, banks and brokers alike have to add in these fees to keep rates down. A bank must pay an underwriting deparment to review files. They look at 3 files for every one that actually closes. You pay an underwriting fee because the bank has a fixed cost underwriting. As a rule of thumb, you shouldn%26#039;t pay more than $1000 in fixed lender fees.
3. I can%26#039;t believe for a second that her husband works for JP Morgan Chase and that she would tell you every single fee is a junk fee. If her husband works for Chase, he should know that Chase charges a $395 app fee (covers credit and appraisal), a $300 processing fee, $200 underwriting fee and $84 tax service fee. These are never negotiable nor are they junk fees.
If you haven%26#039;t put the clues together, I work for chase as a nationwide loan officer. I provide all of my clients with a workbook that gives them all of the tips, tools and knowledge needed to be an educated borrower. It even teaches you how to shop for the best mortgage.
Chase offers loans that can include closing costs if you would prefer not to bring them to the table, but I have a Total Cost Analysis which allows you to see an Apple to apple comparisson to see which way fits your needs.
You can visit the website Chase has for me at CaseyCasperson.com. I can lend in all states and would be more than happy to get you taken care of.
Casey.x.casperson@chase.com|||I can provide you with a good faith estimate. and with that Fico
I can offer you the best pricing and service. I want to educated you if you are interested send me a email. I will not waste your time.
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