What is a good rate for a 100% mortgage, including closing costs and no money down?

5.25% is the best I've been quoted.

Wow.. can you get the closing cost added on to your mortgage? IF so, let me know which mortgage company you are working with. My husband and I are getting VA loans, they have no money down, but we still have to pay the closing cost which is in the neighborhood of $4-5K. That's still way too much for us.

I know for VA loans our rate is about 6.25. So anywhere between 6-7 sounds good to me.

Your best option would be to do an 80% 1st loan (6-6.5% and higher) and a 20% 2nd loan. the rate will be higher on your second (8% and higher). of course, your rates will vary based on your credit score, etc. if you are willing to pay down the rate (pay money up front for a lower rate).

remember if you get a 100% 1st loan, you will be paying mortgage insurance which is a waste of money...

I can do 6.875% APR first and 9.5% APR second. 80/20 deal.

Sincerely,

Vladimir Rozumniy

Sr. Vice President/Managing Director

American Mortgage & Real Estate Group

8159 Santa Monica Blvd Ste., 201

West Hollywood, CA 90046

Direct (323) 428-5944

Fax (323) 331-1538

Email: info@amregroup.com

Website: http://www.amregroup.com/

Assuming you have a good credit score, that type of loan would be around 6.75 to 7.25 APR. Please make sure you look at the APR and not just the rate alone... they are not the same. APR is the true cost of the loan over the long haul.. it includes things such as closing costs and discount points.... email me if you have any more specific questions.

Hi there...

I am a Mortgage Consultant, and I just funded a loan like the one your looking for, allow me to help.

Contact me directly, I'll need to know the state you are in, purchase price of home, appraisal value, credit scores, income and I'll share my experience with you.

Sincerely,

Antal

Surefast Mortgage

AToth@SurefastMortgage.com

100% financing carry always higher rate than mortgage for people with min.5% down payment. in my opinion any rate is good if you can afford the payment- after 6mth, 1yr you can refinance for better rate if you will have some more equity in the property.

I work at a Mortgage Company and it varies with the options you choose. What state are you in? visit www.iprovident.com

Use the mortgage calculator.

It depends on your credit score. Assuming it's good, today's rate is 6.50%. You can contact me at my office (Capital Home Loans) & I will be happy to answer your questions. Now is a good time to buy!! Toll Free - 866-252-4590

If it's super-great credit, someone I know just got a 6.75 % rate.

Otherwise, if your credit isn't good, it will be upwards of 12.5 or worse.

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