ASIAN GAL asked:


The Mortagage Rate is up to 7% now. If I want to buy a house around $150,000. If I buy point? is worth it? Thanks alots

Calvin

rlc_60504 asked:


My wife and I are both employed. We are seeing around 2%-3% returns on our 401k investments each year. Our fund options aren’t that great. Here is what we are considering…Taking the amount we are contributing to our 401ks that IS NOT MATCHED and using it to pay down our mortgage. We would continue to put the amount necessary into the 401ks to get the matches. Since our mortgage rate is 5.625%, it seems like we would be getting a better return on the money than making the 2%-3% that our 401ks are returning on that money. I know that we would be decreasing the amount of interest we are paying on our mortgage each year and reducing the amount going into the 401ks so there are some tax implications. We are both contributing more that 10% to 401ks right now. Which is better? Paying down the mortgage or getting 2%-3% returns on our 401ks?

Eric

Kavan Lee asked:


My situation: 950K purchase price, and I’m putting 300K down (loan principle is about 650K). FICO is 776. 30 years, with 5 years fixed. No points. My mortgage is at 6.125%.

My questions:
1. Assuming tax/insurance of about 1100/month, what would my monthly payment to the bank be?
2. How good is this deal?

Thanks!

Dolores

John P asked:


I have asked for some online quotes for the mortgage interests, they took a generic info as how much would be my fico,salary,debts and gave me a rate quote.(ex: 5.25% 5.13%)

1) Now when I actually start talking to them , do they have to
run my credit history to give the correct rate ?

2) If I call 3-4 people from the online quotes what they have sent
me, does everyone run my credit history to give me the actual
interest rate ?

3) Does it effect my fico score ?

This is only to know what interest rate am I getting for the home which I wanted to buy

Leslie

Muse asked:


Have one of those ARM nightmare loans. Can’t refi - husband has marks on his credit now. Options?

Terri

cardinalfanusa asked:


Rates went up in April/May/June, and have declined or held steady for the past 3 weeks. In your opinion, what will the rates look like over the next 12 weeks? Why?

Alan

hipster asked:


My average of the credit bureaus is 805. I have no credit card debt, no car payment or debt of any kind. I have an open line of credit for up to $400.000. What interest rate can I expect to get on buying a home??

Lloyd

ROY A asked:


not only is my rate adjusting soon i just found out that my condo is worth less then what i owe i will not be able to make the payments after it changes cant sell because i owe more then it worth is there anything i can do to safe my condo so it doesnt go into default i think it crazy that my condo was just valued at 85,000 last year and now its not more then 74,000 i owe about 82,000 im so screwed please help

Ana

Me asked:


I’ve got a 7.125% fixed rate on a 40 year mortgage through BankofAmerica. Home value is about 125,000. I bought it for 109. The mortgage is for 90. Is there anything better out there that I could actually get?

Ella

STARYDYNAMO asked:


Sorry to ask the shocking stupid question! I am coming to the end of my mortgage term ( end of September) and am wandering if the mortgage rates will go down (currently for at 6.99%). Do you think it will go down by this time? I am in the UK.

Anthony