what is the interest rate right now for home loans we are first time home buyers with excellent credit?

Asked by Claudia, 90201 Sat Aug 15, 2009

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6
sarah oswald, Agent, Eastvale, CA
Thu Jan 13, 2011
Hi Claudia,
Interest rates changes everyday. Sometimes it even varies hourly, depending on the volatility of the market. The best thing for you to do is to contact a local direct lender, either thru the internet or from you bank. They will request several documents such as pay stub, bank statements, your credit scores, 2 years of consecutive employment in the same line of business. Your rate will also vary depending you the amount of downpayment. Rates are usually lower if you are able to put down 20% as downpayment. Once your agent has all the info and documentation from you, he or she will be able to tell you at what interest rate you qualify for. You don't need to lock in a rate till you actually find that perfect house. Good luck.
0 votes
Jesse Sierra, Agent, Pomona, CA
Sat Aug 15, 2009
Hi Claudia,
Visit your local bank or banks and shop around for the best mortgage.
Online calculators are not accurate, they are just estimates.

Jes Sierra, B.Sc., Realtor®

http://www.hellomynameisjes.com
0 votes
Voices Member, , Benton County, OR
Sat Aug 15, 2009
Claudia,

Mortgage rates for each state updated daily... http://mortgage-x.com/x/search.asp

Mortgage rate Trend survey updated weekly (Over 250 lenders participate)
http://mortgage-x.com/general/rate_trend.asp

Interest rate Trends..... http://mortgage-x.com/trends.htm

Government site with interest rates...Home Price index...much mortgage info
http://www.fhfa.gov/

Lots of Mortgage info... http://ml-implode.com/

Another Gov. site with useful Mortgage info.... http://www.ftc.gov/bcp/menus/consumer/credit/mortgage.shtm

Good luck, Dunes
0 votes
Kimberly Bra…, Agent, Venice, FL
Sat Aug 15, 2009
Check http://www.BankRate.com for current rates
Hope this helps...Kimberly
0 votes
Ann Heitland, Agent, Flagstaff, AZ
Sat Aug 15, 2009
Rates are about 5.22% average this past week with .75 points paid to obtain that rate -- this is national average. Rates move daily with mortgage bond market trading. Get a good mortgage broker to sit down and explain costs and process for you.
0 votes
Adrian Hunti…, Agent, SAN FRANCISCO, CA
Sat Aug 15, 2009
FNMA 30 yr Fixed Conventional is 5.125-5.5% Depend's on the bank. I suggest you do a 1 point buydown if you plan on keeping the home for 4 years.
0 votes
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