Question by Dveney: How long do it take to get a credit score for a mortgage loan.?
My wife and I was trying to apply for a mortgage loan and the mortgage company said that she did’nt have a credit score. She don’t have any debt or anything. Her credit history is clean. How does she go about getting a credit score as soon as possible and how many forms of credit should she apply for?
Best answer:
Answer by reena r
I think you can get since your wife credit score is good
Know better? Leave your own answer in the comments!
Question by Andrew R: Does anyone know if you can adjust your fixed rate 30 yr home mortage down the line?
Also, click what is the current interest rate on a 30 year mortgage?
Best answer:
Answer by Chuck P
Sure, approved you can refinance later when rates get better. or you can just pay more on your interest every payment and pay the loan off in half the time. The current rate is around 6.5% I believe, but that will depend on your credit.
Add your own answer in the comments!
You cant quote rates without knowing anything. But a perfect loan if all the stars are lined up. Great LTV, Perfect house, Perfect credit
6.25 Gov, 6.375 conv
With a 1% origination fee. Relized many states have different rate sheets. Also this is assuming a loan around 180-200K
Rates could be lower or higher depending on loan amount. Anybody on this site can quote you a rate but it means nothing. Your FICO score, your loan amount, the type of loan. Everything is going to change it.
You cant change the terms of your loan once you sign. The rate will stay the same the payment will stay the same. Maybe with some lenders if you got a 200,000 dollar loan and had a windfall of 100K that you added to your loan. You might be able to get them to reammortize the loan to lower your payment but keep the remaining years the same. Only certain loans will do this, and you will want to get this in writing before you sign. A letter for the loan officer saying you can do this is worthless. Get if from the Lender.
Other then that you really cant do much, without refinancing it.
Good Luck
*I ponder if Marty has ever answered a question or just copies and paste that response to everybody all day long. He keeps changing his name but his email is always the same. He must get banned for spamming. Poor Marty.*
1. If you want to make comparisons using very accurate data, get quotes from different lenders or brokers on the same day. Mortgage quotes change daily. At times, they even change several times in one day.
2. When you compare terms, compare mortgage quotes for similar lock periods. A lock period is the specific span of time that guarantees implementation of a certain rate. As a rule of thumb, longer lock periods have higher rates. Lock periods are generally offered in increments, like 15, 30, or 60 days.
3. Compare mortgage quotes that have the same points, such as zero or one. In the mortgage business, a point is the term given to a rate. Three points, for example, means three percent. Mortgage quotes follow a tiered pricing. This gives you the opportunity to buy the rate and bring it up or down. How? It’s very simple. To make the points decrease, increase the mortgage rate. To make the points increase, reduce the rate.
4. In the quote you ask for, ask that the quote loan be separated from associates fees. Property taxes, home insurance, and pre-paid interest are not lender’s fees. What falls under lender’s fees are the following: standard title, appraisal fees, and processing or underwriting charges.
5. Compare mortgage quotes of the same type. There are many types of mortgages. There is a buy-to-let mortgage. Then, there are also self-build mortgage, right-to-buy mortgage, and reverse mortgage. The terms of your mortgage could change along with the type.