Mortgage rates (Charlotte: insurance, good credit, lender)

[MHW]

Here is a dumb question - we are buying soon in Charlotte. Are the mortgage rates that you see advertised on the web (mostly 5.875%) about what I will end up paying? Or is that a teaser rate that no one really gets?

We have great credit and not much debt other than our current mortgage.

Anyone know which banks are known for having the best rates?

[lisaf]

That's what I'll be paying...it's not a teaser.

[mm34b]

Here's some info from the Charlotte Observer newspaper.

http://www.mtgeinfo.com/charlotte/index.htm (broken link)

[winston2000]

I just got pre-approved by Bank of America on friday for 5.875% mortgage.

[flyingscotsman]

If you have good credit and 20% downpayment you should be able to get 5.875%

If you have less than 20% then you have to work out whats best points, lender paid mortagge insurance etc