Lower than 6%?? (PMI, interest rate, approved, credit score)

[swoonef]

No one wants to give me an interest rate lower than 6 %. I was approved for 100% financing and i have good credit score of 770.

Should I be getting better than 6 if the current rate is lower than this?

Thanks.

[Mainer61]

Not sure if you can get better at 100% financing, but at 80%, you definitely can do better. Good luck

[NewJersey?]

My BIL got roughly 5.5% , on a new construction with 5% down. Thias was about 2 weeks ago. I believe rates have went down since then.

He's a first time borrower. Not sure if that had anything to do with it. Good luck.

[renriq02]

depends on the program.....but 100% financing makes it harder.

have you tried FHA ? only 2.25% financing...and the rates are much lower.
If you're VA qualified...you can get 100% financing...and really good rates.

You shouldn't just be concerned about the interest rate...you should be concerned about paying PMI!