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my FICO is 768 . i am a first time buyer with a combined income of 198000.00 can i get a decent rate ???

by kiwalker478 from Van Nuys, California. Jun 26th 2018 Reply


Hi,Feel free to reach out to me directly however these are great attributes however other factors that will be considered is Purcahse Price, Loan Amount, Assets and Monthly debt obligations

Jun 26th 2018
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Bob Collins (bob@inaniche.com)
#263 ranked lender in California - 1 contribution

The general answer is yes. There are other factors Fannie and Freddie have their own guidelines and additions to cost but the base rate should be good. Look or google Fannies 60 day delivery rate and you can see what the banks pay for the money.Hope that helps.

Jun 27th 2018
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Barry Harris (bhhomeloan@gmail.com)
#1042 ranked lender in California - 9 contributions

It will depend on what the current rates are once you get your offer accepted, your loan amount and how much you will be putting down. The lowest rates are offered to those who put at least 40% down but even if you put 3% down, you will get one of the best rates available provided you keep your loan amount under $453,100. Higher loan amounts are available at a higher rate and more down payment will be required.

Jun 27th 2018
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,455 contributions

Of course,, but we need much more info to say exactly.. There are literally a hundred different things that go into pricing a loan.. you provided 2. Loan pricing is based on the lowest MID score of ALL borrowers.. we run a "Tri-Merge" credit report with all 3 major bureaus.. you provided one credit score and said your "Combined" income is $198K indicating there is more than one borrower. Also, making $198K is good, but what about the debt.. to qualify you need to be within the allowable debt to income ratio to obtain financing.. without knowing your monthly debt, we cannot advise. What about down payment? 5% down, 50% down or somewhere in between? Typically, the larger the down payment, the lower the risk for the lender and the lower the rate. What about property type? Single family home? Condo? Townhouse? Duplex? each of these property types are priced differently.. I could go on, but i'm sure you get it by now.. Rates are higher than they were in the past, and they are going up, but they are still good.. If you want to know exactly what you qualify for and how much the rate would be today, feel free to reach out to me.. i'd be happy to look at your complete loan profile and put my offer in writing.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893..

Jun 27th 2018
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,791 contributions

The quick answer is yes. Credit score is a very important element in home loans, but rate is affected by all sorts of things besides just credit score. Loan type, property type, down payment size, and your choice of rate and closing cost combinations.

Jun 28th 2018
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