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how can i get a lower mortgage rate? or is mine fine?

Is 5% interest rate with 4% down a good rate in the current market? my credit score is 710ish and it's a homepath house by reeseknowles98234... from Hillsborough, North Carolina. May 1st 2014 Reply


There are a few other items that go into determining the rate. However, you could get a lower rate than 5%. I'm a local loan officer. Contact me if you'd like to see what I can offer.

May 1st 2014
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

What kind of loan are you applying for? You should be able to do better than 5%

May 1st 2014
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Tom Laakmann (HomeLoanPro)
#58 ranked lender in North Carolina - 8 contributions

We are offering a slightly lower rate today for 710 score (with no points). What are the fees associated with the 5% rate? It is important to consider the dollar amount of any points and/or lender fees that are associated with the rate. You can check us out at www.bestrateNC.com if you want to accurately compare rates.

May 1st 2014
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John Moran (TheHomeMortgagePro)
#7 ranked lender in Arizona - 661 contributions

Homepath rates are higher than typical traditional loans.

May 2nd 2014
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Mike Silkworth (msilkw_195_870)
#30 ranked lender in Michigan - 527 contributions

It sounds like a GREAT rate. HomePath does not require Mortgage Insurance (MI). So this rate is higher than a regular loan, but doesn't have the added expense of MI. Don't worry about the previous answers stating they have lower rates - their lower rates would be plus MI. Your lender is doing a good job for you by directing you toward a HOMEPATH Loan.

May 4th 2014
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