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Home loan interest rates

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It varies based on your credit score, the loan to value (how much the home is worth vs what you are financing) among other things but I think the current rates for great credit are a little under 4 percent. If your credit is below 720 you can usually plan for 1 percent increase per 100 points below 720. It will also depend on whether you are paying points up front to buy down the rate.

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Hmm, so under 4 is good?


Yup. And historically it's ridiculously low. When we bought our house we got 7% and my mom was impressed at what a great rate we had. When they bought a house in the 70s they had 13%.


Our federal student loans were a floating rate but capped at 8.25%. Those were typically the lowest rates you could get. We're in a pretty amazing times for interest rates.


That said, I'd be sure your loan is fixed and not an ARM.

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Phew! Ok, as you can see, I am pretty ignorant about this. :blink: Our rate is fixed, not an ARM. The rate is 3.75. Feeling better and better about this! :D


Sounds great to me. I've heard as low as 3% for 15 year when the owners had lots of equity (40-50%). But for a more typical 30 yr rate, anything close to 4 is AWESOME.

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