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Is 5.875%, APR of 5.918%, a good rate on a 10/30 fixed rate mortgage loan. It is through a very reputable bank |
loan amount- 240K Credit- 7.25 Very little/no debt DC condo Income- 50K The 10/30, is that a balloon in 10 years? Or is it interest-only for the first 10 years? The rate is good either way, but better if it's int-only. Source(s): 10 years in mortgage banking looks pretty damn good to me. I'm assuming it's 10yrs I/O fixed rate for the 30yrs. Of course the fees you are being charged is the next question. works for mtg lender I would say that is pretty good too...As long as that income qualifies you to actually buy that price home..Go for it!..s |
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