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Compare Average Mortgage Rates - The Bills.com Blog
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Compare Average Mortgage Rates
Question: If the average mortgage rate for a 30YR fix rate loan is 5.98%, how would either a A-Paper Loan compare or a Subprime Loan compare? Would A-Paper loan interest rate be a certain % less than average and subprime a certain % higher than average?
Answer: Thank you for visiting Bills.com. Here is an answer to your question - which is a very good question!
There is no standardanswer, other than to say that a subprime (also known as "non-prime" or "Band C") loan will carry a comparitively higher interest rate. The best thing to do is to apply with several lenders and see what rate you are quoted for each product.
Be sure to compare "apples-to-apples" as there are many different types and options when it comes to home loans.
Bills.com makes it easy to compare options , but be sure to only select
a loan that meets your needs:
If you would like more information, please visit our mortgage resource page.
Best,
Bill
www.bills.com/blog/
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