Home Mortgage Loan Rates – CitiMorgage, JP Morgan Chase and RBC Interest Rates for First Time Buyers
Posted on | April 29, 2010 | Comments Off
With the first time home buyers tax credit coming to a close tomorrow, April 30, 2010, it is likely that many Americans are searching for low home mortgage loan rates. Three of the large mortgage lenders that are currently making offers to first-time buyers are CitiMortgage, J.P. Morgan Chase and RBC.
It is very important to understand that these may be three of the larger mortgage lenders but there are many options when it comes to locking in to a low home loan rate. You may want to contact local mortgage lenders in your area to see what type of interest rates are offered from other businesses.
When seeking a low home mortgage loan rate it is very important to understand that not everyone will qualify for mortgage rates under 5%. You will need a very good credit score, above 740, and a debt to income ratio that is below 40%. If you do not meet these requirements you are going to find that you qualify for a higher interest rate.
With many first-time home buyers flooding the market looking for the tax credit it will come as no surprise to see mortgage rates being quoted to these individuals on a consistent basis. If you are a first-time home buyer make sure to find a mortgage lender with great customer service that will offer you an attractive interest rate.
Author: Mike Garner