Linda, Home Buyer in Cleveland, OH

what kind of interest rate can we expect to get on a thirty year fixed loan. My credit score is 695 and my husbands is 806.

Asked by Linda, Cleveland, OH Sun Dec 5, 2010

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7
I am located in your area and have a list of local Lenders. It is often beneficial to “shop” Lenders to determine which one has the best mortgage interest rates and loan terms. Since you have a lower credit score than your husband, it may be best for him to apply for a loan in his name only to get the best rate and terms (of course you will have a deed for & ownership in your joint names). If you would like a list of the local Lenders, my web site is listed below with an e-mail address of pribisko@AgentsWhoEarnYourTrust.com.
0 votes Thank Flag Link Mon Dec 6, 2010
You need to address this question to a good lender, preferably in your area with a direct personal contact.
As it not only depends on your credit score, the amount you want to borrow, what kind of property you are going to buy (purchase price!) etc. etc. So a good area lender will give you all your options, and should be able
to give you all your costs when applying for such a loan.

Good Luck to you!
Edith YourRealtor4Life& Chicago Connection
Working always in the very BEST interest of her clients
EdithSellsHomes@gmail.com
0 votes Thank Flag Link Mon Dec 6, 2010
30 year fixed with less than 20% down 4.5% (may be some points depending on what actual down payment is) - have to use lower credit score when applying.
0 votes Thank Flag Link Mon Dec 6, 2010
Hello Linda,
Your interest rate will vary depending on several factors other than your credit score. Today's interest rates are in the range of 4.6 to 4.7 which is still fairly good. I definitely recommend speaking with a loan officer to get a more definitive answer. I have a wonderful Finance Manager at my office who would be happy to assist you. If you would like his information just give me a call at 440.971.5648 or email me at siobhannickerson@howardhanna.com

Warm Regards,
Siobhan Nickerson
Howard Hanna Real Estate Services
440.971.5648
Email: siobhannickerson@howardhanna.com
Web: siobhannickerson.howardhanna.com
0 votes Thank Flag Link Mon Dec 6, 2010
Linda, based on your scores you should be able to get 4.375 - 4.725 but that's a guess since I'm not a lender. There may be other factors other than your credit score. I'm sure a lender will answer this question.
0 votes Thank Flag Link Mon Dec 6, 2010
If you are looking to purchase, it's best to consult with any qualified loan officer(s), see if you qualify, type of loan, how much and an expected interest rate--keep in mind that interest rates do vary.
0 votes Thank Flag Link Mon Dec 6, 2010
Linda,

Getting a good interest rate will depend on more than your FICO scores. (which are good by the way!)

Years of employment, debt ratio, income, tax returns, etc. will be a few other factors that will be weighed.

It's best to seek a local lender and ask for their list of required information. They will be best resource for accurate informaiton on your interest rate and how much you can qualify for.

Best of luck!
0 votes Thank Flag Link Sun Dec 5, 2010
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