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Are commercial mortgage rates normally higher or lower than home mortgage rates?
Wiki User
∙ 11y ago
Typical interest rate for a commercial mortgage is 13% compared to a scope of 1-3% interest rate on a residental mortgage. Also it is very hard to obtain a commercial mortgage less than 100,000$. In the bottom line, one can conclude that commercial mortgage are normally higher than residental.
Wiki User
∙ 11y ago
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How does your credit rate effect your mortgage rate?
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
What is a high and low mortgage rate?
3% or lower is seen as low and 8% or higher is seen a high. the lower you can get that better and if you can get a fixed mortgage its better then if you get an adjustable.
Will you need a higher down payment to get a mortgage with bad credit?
Yes, a higher down payment is typically needed to get a mortgage with bad credit. A down payment of 25% or more will help to get a lower interest rate.
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
What are the average commercial loan rates?
The average commercial loans are around 5.0 However the loans are based on your credit and can go higher or lower.
How does your credit rate effect your mortgage rate?
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
Is the Massachusetts mortgage rate currently higher or lower than average?
The national mortgage rate is currently at 4.02%. The Massachusetts mortgage rate is currently lower than the national mortgage rate by 5 basis points.
What is a high and low mortgage rate?
3% or lower is seen as low and 8% or higher is seen a high. the lower you can get that better and if you can get a fixed mortgage its better then if you get an adjustable.
Does a second mortgage in the UK typically come with a higher or lower interest rate than the first mortgage?
A second mortgage in the United Kingdom typically comes with a higher interest rate than the first mortgage. This is because the lien is considered to be less secure.
What are the benefits to getting a second commercial mortgage?
Some of the benefits of getting a second commercial mortgage would be lower payments, a chance to pay off bills that are backed up or due now. It can also help pay off a first mortgage or pay for home improvements.
Is LIBOR normally higher or lower than the US prime interest rate?
It is normally higher than the US prime interest rate.
Will you need a higher down payment to get a mortgage with bad credit?
Yes, a higher down payment is typically needed to get a mortgage with bad credit. A down payment of 25% or more will help to get a lower interest rate.
What is mortgage tax in dutchess county New York?
Effective November 1, 2007, Mortgage Tax for properties in Dutchess County is calculated in four ways:For property that is improved or to be improved by a one or two family residence and the mortgage amount is $9,950 or less, the mortgage tax is calculated by rounding the mortgage up or down to the nearest one hundred dollars ($50.00 and lower rounds down, $50.01 and higher rounds up). The mortgage tax rate is .75% of the rounded amount.For property that is improved or to be improved by a one or two family residence and the mortgage amount is $10,000 or more, the mortgage tax is calculated by rounding the mortgage up or down to the nearest one hundred dollars ($50.00 and lower rounds down, $50.01 and higher rounds up). The mortgage tax rate is 1.05% of the rounded amount less $30For property that is improved or to be improved by a three to six family residence, the mortgage tax is calculated by rounding the mortgage up or down to the nearest one hundred dollars ($50.00 and lower rounds down, $50.01 and higher rounds up). The mortgage tax rate is 1.05% of the rounded amount.For commercial property, the mortgage tax is calculated by rounding the mortgage up or down to the nearest one hundred dollars ($50.00 and lower rounds down, $50.01 and higher rounds up). The mortgage tax rate is 1.05% of the rounded amount.Mortgages for property in the town of Red Hook are subject to an additional transfer tax. Information can be found here: County Clerk: Forms and Guidebooks
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
What are the average commercial loan rates?
The average commercial loans are around 5.0 However the loans are based on your credit and can go higher or lower.
If your wife has good credit and you have bad credit what happens if you apply for a mortgage together?
Depends on what type of mortgage you are trying to obtain. Normally, conforming mortgage loans rely on the lower middle credit score between the two borrowers. This could possibly stop a loan from being approved. But, there are non-conforming mortgage products out there that will take the higher of the two scores to qualify for the loan. In most cases, though, that borrower also needs to be the high wage earner; but not always. Whichever the situation may be, you will find, unfortunately, that you will probably be charged a higher rate.
What is the pH of blood and why?
Normally 7.4 which is neutral. Lower would be an Acidosis Higher would be an alkalosis
