650 credit 130000 dollar fha loan no points what should i be paying apr fha loan

Asked by Mike, 01845 Thu Aug 25, 2011

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, ,
Thu Aug 25, 2011
You should consider these major two factors when shopping for a home loan regarding APR

1.) What is my interest rate?

2.) What are my lender fees?

My company has a policy to offer par pricing (which happens to be currently 4.250% for your scenario) and a flat fee for lender charges. We charge $1,590.00 which are etched in stone. That's how you should be looking at it. APR is a little misleading, as we have to list fees on our GFE and Truth in Lending that we really don't know for sure until close to the end. So APR can vary. You should shop rate and lender's fee on not APR.

Just a thought

Just my opinion
Web Reference:  http://www.AFN-Loans.com
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Scott Godzyk, Agent, Manchester, NH
Thu Aug 25, 2011
Mike you should seek exact numbers from different lenders in your area, the rates and numbers change from location to location as credit to credit. Just about every lender offers you free prequailifications and cost estimates
Web Reference:  http://www.ScottSellsNH.com
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Scott Mason, Agent, Lecanto, FL
Thu Aug 25, 2011
It can vary from area to area and lender to lender. You may consider shopping around. Don't be shy about negotiating closing cost and asking a lender what their closing cost are. Just make sure you are comparing apples to apples. Also you can ask the seller or agents to contribute to your closing cost. Remember it is all negotiable.
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