Home Buying in Stow>Question Details

Rls, Home Buyer in Massachusetts

I am buying a new home for 450,000. I plan on putting 25% down and have a FICA score of 770. What rate?

Asked by Rls, Massachusetts Fri Jun 27, 2008

should I be getting for my mortgage?

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You are looking in the low 4% I can go over an application with you and get you an exact rate. You can reach me at 614-468-5705 or jhicks@americanfsb.com
0 votes Thank Flag Link Mon Nov 17, 2014
This depends on the time of year and the CPI (Consumer Price Index) . RIght now rates are about 4.25% give or take for someone with your loan credentials.
0 votes Thank Flag Link Mon Nov 17, 2014
The rate also depends on your debt ratio and the length of the mortgage - 15 years vs. 30, also the type of mortgage - variable or fixed. My clients recently closed on a house in Stow and they had an excellent mortgage broker. If you are not already working with a Realtor, I would be happy to send you her contact information, If you are working with a Realtor, he/she should be able to refer you to a reputable lender.
0 votes Thank Flag Link Thu Dec 19, 2013
It would all depend on what the rates are that day. You would be considered int he top tier so I would suggest Third Federal. Super low rates for Conventional buyers with 20% down.
0 votes Thank Flag Link Tue Dec 10, 2013
Where in Massachusetts are you, Ris? I have a couple of very good lenders I could refer you to if you're in the Boston/Eastern MA region. If you'd also consider making sure the home is Energy Star compliant and it needs some upgrades in order to become classified as such, you may also want to consider an Energy Efficient Mortgage, which would get you an even LOWER rate than otherwise possible.
Let me know if you'd like more details, or you can refer to my blog at http://cybergreenrealty.wordpress.com and read my entry on Energy Efficient Mortgages to find out more.
Best of luck and congrats on being such a wise saver!
--Tim
0 votes Thank Flag Link Sat Jul 4, 2009
Thanks for the kind words Maria:)

Tino
0 votes Thank Flag Link Sun Jun 29, 2008
Tino is right although you may be able to get a little lower if you already have an established relationship with a bank or credit union.
0 votes Thank Flag Link Sun Jun 29, 2008
RIs,

Based on mortgage rates published Friday afternoon, you would probably fall somewhere between 6.375-6.500 percent on a 30 year fixed loan.

Please email me if you have any additional questions. Tino.Muratore@gmail.com

Thanks,

Tino Muratore
0 votes Thank Flag Link Sun Jun 29, 2008
If all that is true, you do qualify for the lowest possible rate out there today. Depending on how long you will be in the house consider an adjustable rate loan - or even a ballon loan if you know you will not be there for a long time. The only reason to get a 30 year fixed rate loan is if you plan on being there for a long time. Find a good Realtor and a good loan officer to help you with these decisions.
Web Reference: http://www.SWOhioRealty.com
0 votes Thank Flag Link Sat Jun 28, 2008
You would be eligible for the best possible rate that day, do not take anything less! Shop around.
Web Reference: http://www.liveinakron.com
0 votes Thank Flag Link Fri Jun 27, 2008
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