Home Buying in Baton Rouge>Question Details

Arkla, Home Buyer in Atlanta, GA

pmi built in interest rate. ... what will the interest rate be on $205k, 10% down, $6kclosing cost ..30yr loan? I know the rates are dropping sum.

Asked by Arkla, Atlanta, GA Wed Oct 30, 2013

What interest rate rate can i expect with built in pmi..btw FICO is 761, 759, 773.....

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Hi arkla,

I see you may be purchasing a home in the Baton Rouge area. If you are in need of a Realtor, I'd be happy to assist you on your next home purchase. My team and I have tons of resources, including lenders available. Good luck sir.

John Mondello, Realtor
Keller Williams
225.329.8119
geauxrealestate@gmail.com
http://www.geauxrealestate.com
0 votes Thank Flag Link Wed Oct 30, 2013
Hi Arkla

I believe you are asking for a Lender-paid MI program, where there is no monthly PMI, but rather it is built into the interest rate. Is that correct?

The loan criteria:
Purchase loan in GA
Primary Residence (owner occupied)
Single Family Residence
761 Mid-score
Purchase price $205,000 with 10% down payment
30 yr Fixed.

Based on those items, our current pricing on this would be 4.375% with no points (as opposed to 4.125% if you selected monthly PMI instead). This is based on a 45 day rate lock and is current as of 10/30/2013 3:00 pm. Rates change on a daily basis, sometimes more frequently, and are subject to change until locked.

Feel free to call me or email me if you would like to discuss things in more detail.

Tony

Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
Fax (248) 945-4842

tony.grech@pmac.com
0 votes Thank Flag Link Wed Oct 30, 2013
The interest rate will depend on your credit rating, employment & banking history, and even vary slightly by lender. I would recommend you just work to get pre-approved. Do you know what area you're wanting to move into?

If you would like to start the process, please just shoot me an email at: theholtrealestategroup@gmail.com
0 votes Thank Flag Link Wed Oct 30, 2013
3.75% on a 30 year fixed loan FHA as of 10/30/2013 and 4.25% for a 30 year conforming loan....
0 votes Thank Flag Link Wed Oct 30, 2013
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