Home Loan Interest?

Does home loan intesrest vary depending on the price of the home or is it just dependent on how long you take the mortgage out for?

Say, would you pay more interest on a higher priced home than you would a cheaper one, just based on price? or would it be the same amount of interest only depending on the term of the loan (and of course the interest rate) ?

Home Loan Interest?

Your interest rate depends mainly on your credit rating. The higher the credit score, the lower the interest.

Home Loan Interest?

The interest rate is based on your fiancial picture, not the amount of the loan. So if you could afford a million dollar home, the rate wouldn't be any different than a 500,000 home, because the rate is based on your ability to pay.

Home Loan Interest?

the rate will not be determined by the actual purchase price of the home but rather the amount of the loan you need to take out to buy the single family home. it may vary from lender to lender regarding low loan amounts. the mortgage company that i used to work for had slightly higher rates and/or points for loans less than $60,000. also, if you go into the jumbo catagory (greater than $417,000 except for AK %26amp; HI which have a higher figure) the rates may be a little higher there as well.

Home Loan Interest?

Absolutely

Home Loan Interest?

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It's kinda long, so you better check it out yourself...

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