Reply
New Member
wegrew
Posts: 4
Registered: ‎03-08-2011
0

pre-approved at 3.5%, good enuf for a 804 score?

Using a local mortgage broker, offer on house in NH is $195k w/ 5% down. All clear so far, and figured I would just get some feeback on the rate. Which is 3.5% for 30 years.

 

My latest TransUnion on myFICO dated 12/02/2012 is 804. My wife's 801. The broker saw slightly higher scores, like 807 or something.

 

3.5% a good rate?

 

Thanks

Valued Contributor
JM-AM
Posts: 3,302
Registered: ‎06-09-2010
0

Re: pre-approved at 3.5%, good enuf for a 804 score?

Depending on when you plan to close. Rates went up to 3.5. So as of today it is a good deal.
Good Luck
May all your dreams and wishes become a reality!
New Member
wegrew
Posts: 4
Registered: ‎03-08-2011
0

Re: pre-approved at 3.5%, good enuf for a 804 score?

before end of Jan is the goal, real estate agent put "Jan 28th or sooner" on the offer.

 

Considering I'm only putting 5% down, I fig 3.5% is in line, but always worth an opinion or two :smileyhappy:

 

Thanks.

Super Contributor
DallasLoanGuy
Posts: 6,328
Registered: ‎07-03-2007
0

Re: pre-approved at 3.5%, good enuf for a 804 score?

we cannot comment on rate or fees without knowing BOTH.

 

rates and lender fees go hand in hand

 




* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
New Member
wegrew
Posts: 4
Registered: ‎03-08-2011
0

Re: pre-approved at 3.5%, good enuf for a 804 score?

Fees:

Lender Fee: $990.00
Appraisal: $450.00
Attorney Fees: $850.00
Owner's Title Insurance: $490.00
Lender's Title Insurance: $465.00
Credit and Flood: $10.00
Transfer Taxes: $1,462.50
Government Recording Fees: $450.00

 

Credits:

Lender's Credit: $2000

 

Confucious.... lol.... who's that?

 

Jack... relax
Get busy with the facts
No zodiacs or almanacs
No maniacs in polyester slacks
Just the facts
Gonna kick some gluteus max
It's a parallax... you dig?
You move around
The small gets big
It's a rig
It's action... reaction
Random interaction
So who's afraid
Of a little abstraction?
Can't get no satisfaction
From the facts?
You better run, homeboy
That's a fact from Nome to Rome

 

-- RUSH, Roll The Bones, Roll The Bones

Super Contributor
DallasLoanGuy
Posts: 6,328
Registered: ‎07-03-2007
0

Re: pre-approved at 3.5%, good enuf for a 804 score?

with only $990 in lender fees, 3.5% is a smokin' deal....

 

can you still get it?

 




* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: pre-approved at 3.5%, good enuf for a 804 score?

That seems like a pretty hot deal to me... jump on it!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
New Member
wegrew
Posts: 4
Registered: ‎03-08-2011
0

Re: pre-approved at 3.5%, good enuf for a 804 score?

Locked it in on Monday  :smileyhappy:

 

Had the option to go 3.375%, but no lender credit. Gonna need a few things, so $2k back at closing will come in handy.

 

Thanks everyone, and Happy New Year!!!


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}