Rate for 20% down payment

Discussion in 'Credit Talk' started by wonder, Mar 14, 2003.

  1. wonder

    wonder Member

    I heard if you have 20% down payment, you can get a mortage rate as low as those who have execellent credit?
    Thanks!
     
  2. barry111

    barry111 Member

    no. Depends what you have on your credit.
     
  3. lbrown59

    lbrown59 Well-Known Member

    you can get a mortgage rate as low as those who have excellent credit?
    Wonder
    ==============
    Who was the genius who came up with this bright idea?????

    The END ************************* LB 59
     
  4. mark

    mark Well-Known Member

    that isnt true, or wasnt in my case when I was looking a few years back..20%-25% enables you to be financed in some cases when otherwise you wouldnt be. the interest rate will be sky high in that case still because the only places that will touch you are the loan sharks.

    I had people all the time trying to tell me all the things I could get with bad credit. SURE IF I WANTED a 60% interest rate and wanted to put 40k down on a 60k house.
    gheez.
     

Share This Page