Home Buying in Union>Question Details

Andrew Thomp…, Home Owner in Union, NJ

OK so we switched to a 5% down conventional loan, paying the PMI insurance up front. From our previous 3.5% scenario we are saving about $300/month.

Asked by Andrew Thompson, Union, NJ Tue Oct 29, 2013

Current mortgage interest rate is 4.2% but bank is charging us 4.5% citing credit score of 689. Does this make sense?

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Answers

3
Congratulations and good luck to you on your home purchase.
0 votes Thank Flag Link Sun Nov 3, 2013
It appears that you could do better that the rate they are quoting you now. My company would need to also know the loan amount and type of house, as well as settlement date. But from what you are saying, you should be able to get a better interest rate.

Best of luck. Feel free to reach out to me with any questions. Thanks.

FYI, did you know you can do a background check on your potential loan officer. check out:

http://www.nmlsconsumeraccess.org

Joseph S. Cordova
Trusted Mortgage Advisor
Partner
NMLS 146855
Evesham Mortgage, LLC
65 East Route 70, Plaza 70
Marlton, NJ 08053
856-985-9944 ext. 103 Tel
856-304-2381 Cell
206-333-0946 Fax
jcordova@eveshammortgage.com
http://www.joecordova.com
0 votes Thank Flag Link Wed Oct 30, 2013
I can beat that deal. Call me at 201-604-3485.

Al Rapoport
0 votes Thank Flag Link Tue Oct 29, 2013
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