What is the average percentage rate for a new home loan in Arizona?

//What is the average percentage rate for a new home loan in Arizona?

What is the average percentage rate for a new home loan in Arizona?

arizona marketing
by amycgx

Question by Angel: What is the average percentage rate for a new home loan in Arizona ?
What is the average percentage rate for a new home loan in Arizona ?

Best answer:

Answer by ChipA
30 year, full amortized loan, less than $ 417,000, at least 3% down, FHA, with verified income and reasonable credit, should be around 5% to 5.5% at most. The 5% figure will cost you a point, The 5.5% should not cost you a point.

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By | 2012-12-07T07:28:11+00:00 December 7th, 2012|Arizona Marketing|2 Comments

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2 Comments

  1. Dost December 7, 2012 at 8:12 am

    If you are in the market for a mortgage it is important to understand what the Annual Percentage Rate means and what you need to know in order to find the best mortgage. Here are tips to help you shop smartly for your mortgage loan.

    Comparison shopping for a mortgage can be a difficult task. Mortgage lenders use one interest rate to calculate your monthly payment but advertise a different interest rate. What does it all mean anyhow? When you shop for a mortgage it is important to understand the difference in the two interest rates. Here is what you need to know.

    Annual Percentage Rate

    The Annual Percentage rate (APR) is calculated by factoring in interest charges and any other fees charged by mortgage lenders over the duration of the loan. APR is expressed as a yearly expense. This formula gives you a good (but not great) estimate of the cost of any given loan offer.

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