As a standard rule of thumb for most mortgage lenders, what is the interest rate differentiation between..?

Question by Lo: How good does my credit need to be to be approved for a home loan?
I just wan’t to know what kind of credit score you need in order to be approved for a home loan?

Best answer:

Answer by Steve D
About a 620 with recent good credit payment history.

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Real Estate & Market Report: April 5, visit this site 2013
•The scheduled FHA Mortgage Insurance Premium increase on April 1 appears to have driven demand for government loans and gave a boost to purchase applications in the March 29 week, recipe according to the Mortgage Bankers Association. The increase in demand …
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Jumbo Business Jumps, this site FHA Activity Falls
… Blue originator-user. The index is an excellent indicator of upcoming mortgage production. A byproduct of the Mortgage Market Index is a full report each week that includes the latest mortgage rates, refinancing trends and other important mortgage …
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HUD Announces Steps to Help Avoid Radon-Induced Lung Cancer
HUD's Office of Multifamily Housing new policy requires radon testing and, if applicable, mitigation for most new FHA-insured construction, conversion and substantial rehabilitation projects, as well as most FHA-insured refinance transactions. Radon …
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Question by M.D.: can you be refinancing and your house goes into foreclosure?
Renting a home that was served foreclosure papers, healing landlord still wants rent although mortgage hasn’t been paid in five months, page what do I, healing the tenant do?

Best answer:

Answer by dusty_titus
As a tenant – the fact that the mortgage hasn’t been paid, is of no concern to you, you still have to make your rent payments, or leave as soon as possible. If you have a lease, now is the time to break it.

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Current Mortgage Rates: BB&T Fixed, this VA and FHA Mortgage Rates Today
This lender advertises the 30-year fixed conventional mortgage at a rate of 3.500%. The 15-year version of this loan can be secured at 2.625%. Other type of home purchase loan options include the 30-year fixed FHA-insured mortgage which is coming out …
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Wells Fargo Current Mortgage Rates
The shorter term, popular 15 year loan deals start at 2.750% yielding an APR of 3.239%. ARMs in the 5 year … The best 30 year refinance FHA fixed rate mortgage interest rates at the bank have been offered at 3.625% yielding an APR of 4.686%. 30 year …
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Mortgage Rates: Limited Inventory Sends Home Prices Higher; Pending Sales …
All FHA interest rates have decreased this week. Current FHA 30 year fixed mortgage interest rates are as low as 3.125%, FHA 15 year fixed mortgage rates are as low as 2.250% and FHA 5/1 ARM loan rates are as low as 2.250%. With the upcoming …
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Mortgage Rates: Retail Spending High as Low Rates Remain Stable
Today's FHA 30 year fixed mortgage interest rates are as low as 3.250%, FHA 15 year fixed mortgage rates are as low as 3.000% and FHA 5/1 ARM loan rates are as low as 2.250%. While FHA may be undergoing several changes, it is still needed by first time …
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Question by Amber T: As a standard rule of thumb for most mortgage lenders, approved what is the interest rate differentiation between..?
a NINA No Doc Mortgage and a regular mortgage home purchase. This means with an excellent credit score.

Best answer:

Answer by jen
Lets start here
nina is a loan where you put no income and no assets on your loan application but they verify employment.
a true no doc is no income, no assets, & no employment verification. Just name, address,loan terms, and liabilities are listed on the application.
a traditional mortgage is what is called full doc this means they verify everything.
so the vary best rate is the full doc less risk
highest risk is the no doc there are many levels in between including a nina the general spread between these loans is 1.5% to 2% in rate
depending on your situation you may be able to use more documentation like bank statements and get a better rate
make sure your mortgage broker knows everything you can verify to get the best rate
hope that helps!

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