Aces High Bulletin Board

General Forums => The O' Club => Topic started by: SFRT - Frenchy on February 02, 2006, 11:24:24 PM

Title: What is a good house interest rate in Tx?
Post by: SFRT - Frenchy on February 02, 2006, 11:24:24 PM

The financing company offers me 6.25%,  for a 170K house, no downpayment. Is that good, or I'm getting raped?

Title: What is a good house interest rate in Tx?
Post by: DREDIOCK on February 02, 2006, 11:31:45 PM

Im not from Texas but for NO downpayment that sounds pretty good to me.

How the hell did you manage a loan with no downpayment?
You own a gold mine or something for collateral?

Title: What is a good house interest rate in Tx?
Post by: WindX on February 03, 2006, 01:36:23 AM

yeah thats a decent rate. specially with no down payment. cant even get that rate 90 miles east in port arthur.

Title: Re: What is a good house interest rate in Tx?
Post by: Krusher on February 03, 2006, 07:05:06 AM

Quote

Originally posted by SFRT - Frenchy
The financing company offers me 6.25%,  for a 170K house, no downpayment. Is that good, or I'm getting raped?

Try this link from the Houston paper, it has a rate calculator on it.

The rate you're quoted seems in line with a no down payment btw

Cron (http://chron.interest.com/)

Title: What is a good house interest rate in Tx?
Post by: Skuzzy on February 03, 2006, 11:18:12 AM

The interest is about right.  Make sure it is a fixed and not variable rate though.

Title: What is a good house interest rate in Tx?
Post by: rabbidrabbit on February 03, 2006, 11:33:42 AM

Yow long do you plan on being in the house?  You can get a cheaper rate with a ARM but its not a great idea if you plan on living in the house beyond the fixed rate time frame.  Also check into the closing costs.  Lenders often don'tmention all the costs so you are best off asking them "what are all of the costs associated with this loan".  I have seen closing costs range fron a couple hundred dollars to several thousand.

Title: What is a good house interest rate in Tx?
Post by: Gunslinger on February 03, 2006, 09:02:36 PM

I'm still getting my loan approved right now for a house in San Antonio.  I'm looking at $150K on a VA loan and I'm being offered 6.125% and that's "zero down"

Of course I will live in the house less than 5 years so I might counter offer a higher interest rate for lower closing costs

I got about 4 or 5 houses in that range that I'm going to be looking at in the N/NW side of town on the 14th.  

Right now I'm playing "fax wars" with the broker.  Every time he wants something he emails me and I have to fax it to him.  THis has happened quite often in the last week.  But, she did say that my Derogetory Credit Explaination letter was the best she's ever read.