Finance Questions

Posts Tagged ‘home mortgage finance rates’

Question: Mortgage Rate???

Is a 6.6275% a good finance rate for my home or is it a little high??? I live in Oklahoma and the purchase price of my home is $78,900, but the morgage guy says the loan will cover the property tax but not the home insurance...does that sound right? If so....about how much a year will home owners insurance be??

Answer: hello, here's an easy
link with free info on mortgages:

http://finance.ebookorama.com/

Mortgage Rates Fuel Financing Boom

Question: When buying a new home, do I have to use the builder's bank to finance my mortgage?

I bought a new home from the builder. The builder deals with a certain bank and they want me to get my mortgage from the same bank they are dealing with. Do they have the rights to do this? Or, am I free to choose whichever bank I want?

Answer: YES AND NO'
SOMETIMES BUILDERS MAKE A PACKAGE DEAL WITH A LENDER ,WHO IN TURN CAN OFFER TERMS AND RATES THAT OTHER LENDER WOULD
NOT.ANOTHER ISSUE IS ,IF THE PROJECT IS A NEW HOUSING TRACK,MOST CONVENTIONAL LENDERS WANT TO SEE AT LEAST HALF THE PROJECT HAS BEEN SOLD.WHERE AS BUILDER 'S PREFERD LENDER MAY NOT HAVE THAT CONDITION.BUILDER'S LENDER CAN ALSO OFFER REDUCED COST,BECAUSE OF MASS BUSINESS.

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