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what does a 3.875 conforming fixed rate mean

Additional details of your question whathere by triple_242_403 from Charleston, South Carolina. Jan 22nd 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

This refers to a fixed interest rate for a conforming loan.. It's fixed, meaning the rate will not change throughout the term of the loan, its conventional conforming, which means it meets the guidelines set by Freddie Mac or Fannie Mae. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. 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

Jan 22nd 2013
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Edgar Aranda (earanda)
#752 ranked lender in California - 93 contributions

It depends on your scenario, in today's environment if they can lock that in and complete your loan. You should run with it.

Jan 22nd 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,993 contributions

The rate is the physical rate (not APR) in most cases, and "conforming" means the loan "conforms" to Fannie Mae or Freddie Mac loan guidelines. www.StPaul-mortgage.com

Jan 23rd 2013
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Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 123 contributions

Good mornimg,this means the loan "conforms" to Fannie Mae or Freddie Mac loan guidelines. We are local in South Carolina. Let us know if we can help. You can contact us at 800-992-4455 or 864-438-4550. Apply online at www.FirstHomeEquityLoans.com. Have a wonderful day! Todd

Jan 23rd 2013
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Bob Schildt (bobschildt)
#43 ranked lender in South Carolina - 18 contributions

This means that the rate is fixed for the loan term. The loan also "conforms" to Fannie Mae and Freddie Mac guidelines or requirements. I'm a Mortgage Lender located in North Myrtle Beach, SC. Feel free to contact me at 843-272-0442.

Jan 23rd 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Fixed for the life of the loan, and fits the guidelines set by Fannie and Freddie

Jan 24th 2013
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