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Old 11-02-2018, 05:55 PM
 
Location: Florida
5,108 posts, read 4,512,590 times
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Just a couple weeks ago we were looking at 5.25 apr. That's when we decided to pay cash instead.
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Old 11-06-2018, 07:44 PM
 
Location: Westchester County, NY
1,410 posts, read 1,359,430 times
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I'm in the final stages of my home purchase. 30 year fixed conventional, on a co-op in NYC. 5.375%. I'm told the co-op makes it a little higher, as well as the fact that my mortgage amount is below $250k. Credit is good, salary more than supports it. Ya never know. I was seeing mid 4s when I started looking earlier this year.
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Old 11-06-2018, 08:24 PM
 
Location: Phoenix, AZ
2,805 posts, read 1,320,016 times
Reputation: 7164
Quote:
Originally Posted by kab0906 View Post
Just a couple weeks ago we were looking at 5.25 apr. That's when we decided to pay cash instead.
I would think a cash buyer would have some leverage these days since a buyer might end up not qualifying just before close of escrow and sellers might be more inclined to shave the price to get a guaranteed cash sale.
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Old 11-06-2018, 08:35 PM
 
Location: near Fire Station 6
987 posts, read 433,459 times
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Do credit scores factor in to the interest rate as well?
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Old 11-07-2018, 10:16 AM
 
799 posts, read 344,550 times
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Exactly 2 years ago, rates was 3.25%. thats crazy @ 5.25%+ today
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Old 11-07-2018, 10:43 AM
 
3,806 posts, read 8,250,872 times
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Quote:
Originally Posted by lostsoul359 View Post
Do credit scores factor in to the interest rate as well?

Factors that determine a borrower's interest rate:

Down Payment Amount
Loan Amount
Credit Score (the Lowest mid-score among all borrowers including co-signers)
Occupancy (Primary/Second Home/Investment Property)
Property Type (SFR/Condo/HighRise Condo/etc)
Number of units (Duplex/tri/quad)
State (not the state of the property, the State in the US)
Loan Type (purchase/Refi/Renovation)
Addl Loan Type (Conventional/VA/FHA/USDA)
Term (length of loan)
Rate type (Fixed/Adjustable)
Debt Ratio
Whether the Loan is a Qualifying Mortgage (conforms to "normal" guidelines)
etc
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