New home interest rates mortgage

Housing Market Shrugging Off

Your down payment is less than 3%, making it difficult to get a loan and a good rate. You could see more loan options if you can put 5-10% down and better rates if you can afford a 20% down payment. For help in increasing your down payment, you can visit the Down Payment Resource Center.

  • Down Payment

You could see more loan options if you put 10% or more down and lower rates if you can afford at 20% down payment. For help in increasing your down payment, you can visit the Down Payment Resource Center.

  • Loan-to-value

The loan amount requested is almost the full value of the property, which makes it difficult to get a loan. There may be more loan options if you can decrease the size of your loan amount so your loan-to-value ratio is 90-95%.

  • Loan Amount

Loan amounts less than $50, 000 typically receive fewer quotes.

Your loan amount is slightly higher than the conforming loan limit of $417, 000. If you can afford a bigger down payment and decrease your loan amount to $417, 000, you could get a substantially better rate.

  • Credit Score

Your credit score is on the low side and may be hampering you from getting more quotes or better rates. Find out how you can improve your credit score.

  • Debt-to-income

Your debt-to-income ratio (DTI) is high so it may be more difficult to finance a loan. An ideal DTI is 36% or lower. Learn more.


The mortgage interest deduction

2005-10-13 19:50:10 by storeez

Not sure who all this proposal is going to affect in here, but Bush's advisors have suggested that the current 1 million dollar ceiling be dropped to about $350,000.
What this effectively means is that if your mortgage is $350,000, you still get all your deductions. But if it is 600,000, you get to deduct only the interest paid on the first $300,000. This means an increase in tax liability of major proportions for those who have large mortgages.
On the west coast here, in the Bay Area, the average home price for a place most would feel OK living in is over $600,000. Now. If this proposal goes through, even with fairly low interest rates, the people who otherwise could afford to buy no longer can do so

Can you find another 10% investment?

2013-05-18 14:31:38 by bobrogve

I'd like to get in on it.
What's the home price to median income ratio in your area?
One caveat is that the Fed is now making noises about ending QE. I don't know how much longer they'll keep interest rates low after that. They have promised not to raise rates until unemployment improves, but Bernanke will be gone next year. The new chair may be a dove too, but it's a risk nonetheless.
Interest rate hikes will depress home (and bond) prices, all else being equal

Here's better reason & does anyone long for JFK

2008-03-17 12:55:14 by LivaLittle

And the way reporters ignored his affairs? Ditto FDR and Dwight Eisenhower. Today's tabloid-ish snoopery into one's sex life needs a return to the days and ways of old.
Now, actual reasons Spitzer was outted so thoroughly:
Since Bush came to power, a new species of loan became the norm, the ‘sub-prime’ mortgage and its variants including loans with teeny “introductory” interest rates. From out of nowhere, a company called ‘Countrywide’ became America’s top mortgage lender, accounting for one in five home loans, a large chunk of these ‘sub-prime

You might also like:

Mortgages increase as interest rates drop
Mortgages increase as interest rates drop
Mortgage market and interest rate …
Mortgage market and interest rate …

Fed Cuts QE Pace to $75 Billion on Labor Market Outlook  — San Francisco Chronicle
The Fed's purchases will be divided between $40 billion in Treasuries and $35 billion in mortgage bonds starting in January. Bernanke, in the ..

New credit union cop tight with industry  — The Center for Public Integrity
As regulators looked on, key credit unions invested money from throughout the system in risky mortgage bonds. When the investments plunged in value and losses ...

Related posts: