Yahoo! Answers*

Question:

Mortgage loans???

What is an average interest rate for a 200,000 home ?????

Answers:

1) Depends on your credit.

2) Yes, it depends on your credit and what bank you go through. Also how much money you have to put down can be a factor. You could be anywhere from 5.5% to 10%. The most typical loans fall in the 6-7% range.

3) Loans are usually based on the what the market states, not the price of the home. Check with several banks in your area.

4) Average would be 6% with a $1,332 month payment. Then add insurance and taxes if paid in mortgage. Credit score and money down all affects the payment.

5) There are a number of factors that are involved with getting you an interest rate. First key factor is your Credit score. Second key factor is your debt to income ratio and the other IMPORTANT factor is your appraised value and whether or not it's a purchase or refinance. Anymore questions or for help finding the best lender. Email me!

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