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October 18, 2007

Current Mortgage Rates?

Under the rubric "trust be verify," I would like to know what I should be paying on a PSlope brownstone coop purchase that should go to closing in the near future. This would be,technically, the buyer's pied a terre, so to speak; buyer's primary residence is suburbs (if that makes a difference).

Thanks.

Comments

If you are asking about what mortgage rate you should expect to pay: there are too many variables. Fixed rate, baloon, regular, jumbo motgage? How much can you put down? You're not giving enough information. This posters advice is to call three separate mortgage brokers. They will know what questions to ask you, and you can then compare.

Posted by: guest at October 18, 2007 3:01 PM

Go to bankrate.com and put in your specific loan amounts and credit and you can get a ballpark from different lenders.

Posted by: CrownGardener at October 18, 2007 3:24 PM

fixed rate; no baloon, no jumbo, $300K with great credit.

Posted by: BrooklynCouch at October 18, 2007 3:52 PM

I've heard Bankrate has been sued for deception; the legit lenders seem to be offering around the 6.5 to 6.6% mark; is this as good as it gets?

Posted by: BrooklynCouch at October 18, 2007 4:22 PM

6.25 is what I was quoted by a broker for Park Slope with about the same amount and credit.

Posted by: hangonsloopy at October 18, 2007 4:41 PM

hangonsloopy, might you e-mail me the specifics? Thanks

Posted by: BrooklynCouch at October 18, 2007 4:43 PM

Just closed yesterday on a loan with Commerce Bank 6.125% with 1 point (6.375 Without) and very low bank fees.

Also they have a 60 day rate lock and approved me really quickly. Took like 25-30 days from application to closing.