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I'm working on getting a 15 year mortgage for 100k. How do I figure out what a fair fixed interest rate is? And what is a normal origination charge? The offer I have now is for 3.5% interest with about 2k in origination charges. Is that fair?
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>>1629517
sounds like the norm
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>>1629517
3.5% is high, you can get around near 3% if you have a good down payment
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Think I paid near $2.3k in fees. Sounds about right for the interest. Try to get dat 20% down payment.
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why go for the 15 year?
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>>1630293
Always go for 15 year and pay off that debt as soon as possible so you can use your income to build more wealth
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well... if you believe that interest rates are going to be higher in year 15-30 than 4%, then a 30 year mortgage would be better....
But most mortgages only last 5-7 years, then a refinance or sale of property
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This website keeps track of current mortgage rates across the US.
http://www.mortgagenewsdaily.com/
Average 15 Year Fixed Rate is 3.33%
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