Posted on: 14th Nov, 2013 12:39 am
Hello there... There is this house in my neighborhood which I want to buy. How will I be able to find out a current mortgage rate and the closing cost for taking out the loan?
You will have to apply for a loan with your local lenders and they will be able to let you know what your mortgage interest rate and closing cost will be like.
Hi Guest,
The mortgage interest rates keep on changing on a daily basis. You will get the mortgage interest which you lock for your loan. As far as closing costs are concerned, you can use the different closing cost calculators available online and get to know about it.
The mortgage interest rates keep on changing on a daily basis. You will get the mortgage interest which you lock for your loan. As far as closing costs are concerned, you can use the different closing cost calculators available online and get to know about it.
You do not have to actually apply for the mortgage to find out.
Do not rely on any calculators you can use yourself because you are not an experienced mortgage lender and there are too many different kinds of mortgages with different costs.
However, the answer and the process are simple.
Call one or more local lenders/brokers and ask them to prequalify you for the purchase and tell you the COSTS and PREPAIDS.
They get a copy of your credit report for free and tell you everyhting you wnat to know and they are experienced.
What could be simpler than that?
Do not rely on any calculators you can use yourself because you are not an experienced mortgage lender and there are too many different kinds of mortgages with different costs.
However, the answer and the process are simple.
Call one or more local lenders/brokers and ask them to prequalify you for the purchase and tell you the COSTS and PREPAIDS.
They get a copy of your credit report for free and tell you everyhting you wnat to know and they are experienced.
What could be simpler than that?
