I have awsome credit. both me and my wife are at 800+. My question is that im getting ready to buy a

i just sold the house i was in and getting ready to buy a new house. i have $40,000 in the bank and am wondering what percent rate i should be able to get on a 30 year fixed. and roughly how much closing cost should be... im looking at a $200,000 house. i have a %26quot;friend%26quot; whos a lender that says he can get me a loan at 6.5 percent with $4,000 in closing and fees. does this sound good?

I have awsome credit. both me and my wife are at 800+. My question is that im getting ready to buy a house?signature loan

you can get the general property value of your house in relation to your area but going to this site and inputting your zip code.

I have awsome credit. both me and my wife are at 800+. My question is that im getting ready to buy a house? loan

go to bankrate.com - they have lots of easy to read info and fun little calculators.....Also, w/ the downturn in the housing mkt.....I%26#039;d search around for closing costs to be a lot lower!!!

I%26#039;ve never used them, but......Lennox Financial %26quot;claims%26quot; to pay all closing costs (appraisals/title insur/doc fees).....so there might be real options for you.......Homebuyers are in the drivers%26#039; seat! take advantage......|||Your %26quot;friend%26quot; is probably pretty close (maybe a little high, I just obtained a loan for a friend and he closed at 5.5% by paying an extra $2900.00. He could have saved some out of pocket money by going with the then par rate of 6.0% on the interest rate, but I have questions regarding the closing costs. You should probably plan on not using all of your savings for down payment and closing costs. most lenders will give better rates if you have at least 2-4 months reserves in savings or checking. You should look for an loan agent who will disclose to you what he makes on the front end (the loan origination fee and the back end - the yield spread premium. (The YSP is what the agent is paid for gettingyou a loan for more than the par rate for your situation. The entails many factors. Go to amazon and look for the book, The Mortgage Brokers Guide to Lending, by Martin Koellhoffer. Hope this helps.|||My credit is far less than perfect. I was able to get a 30yr fix rate mortgage at 6.125 percent, with one percent discount for the first year. My advice SHOP AROUND!!! Don%26#039;t just go to one lender. Lending tree, Ditech, and many more online lenders exist as well as your local lending istitutions. Gather the necessary information then throw it out there to see what you can catch. Lenders are dieing to get your business when it comes to real estate mortgages. With your credit scores you%26#039;re less risk to them so they should be willing to cut you an excellent rate.

All that said there is one thing to keep in mind. The interest rates are constantly changing. Interest rates have been goin up. Keep your eye on the trend if you see that the rates have fallen capitalize on this quickly.

With credit scores like that you might want to consider real estate investing as well. Partner up with someone good at finding the deals. Use your credit to secure the loans and both of both parties will come out winners.|||it%26#039;s irresponsible for anyone to quote you not knowing all of your details. Start with an experienced Loan Officer and have your 3 score credit report pulled, and fill out a complete application. From there you should be able to get accurate information for rates and programs.|||The closing costs are okay but the rate is way too high. As someone said earlier, your rate should be around 6 to 6.125.