Home Mortgage Loan Rates – Citigroup and Wachovia Interest Rate Offers
Posted on | March 9, 2010 | No Comments
Home mortgage loan rates have been under 5% for the 30 year fixed mortgage rate for quite some time so it should come as no surprise that Citigroup and Wachovia are currently making attractive interest rate offers to borrowers who have a very high credit score and a low debt to income ratio.
The amount of debt you have can greatly hurt the amount of money you can borrow from a mortgage lender. This is not true with just Citigroup or Wachovia but almost all mortgage lenders. If you find that your debt to income ratio is well above 45% then you are going to struggle to qualify for a mortgage of significant value.
If your credit score is lacking then it will greatly affect your interest rate. To have a bad credit score and a high debt to income ratio is to be in the worst of both worlds when it comes go qualifying for an attractive mortgage. It would be wise to clean up these areas of your life before contacting a lender.
If your credit score is above 740 and your debt to income ratio is very low then you should have little trouble with any mortgage lenders. It would be wise to contact several lenders so you can find a competitive mortgage interest rate with great customer service.
Author: Mike Garner
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