Ask Bill your personal finance question

Compare Average Mortgage Rates

If the average mortgage rate for a 30YR fix rate loan is 5.98%, how would either a A-Paper Loan compare or a Sub-prime Loan com

If the average mortgage rate for a 30YR fix rate loan is 5.98%, how would either a A-Paper Loan compare or a Sub-prime Loan compare? Would A-Paper loan interest rate be a certain % less than average and sub-prime a certain % higher than average?

Read full question
Bill's Answer
4.3
/5.0
(4 Votes)

Bills.com | Find Learn Save

There is no standard answer, other than to say that a sub-prime (also known as "non-prime" or "Band C") loan will carry a comparatively 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/

Get Mortgage Rates!
4.3
/5.0
(4 Votes)

People also like to Read

Betsalel Cohen

Mortgage programs have different minimum credit score requirements. However, lenders often have stricter rules. It is importa... Read more >>

Daniel Cohen

FHA Loans | FHA Loans have huge benefits, including VERY low down payments and low credit limits. Get FREE info on FHA loans... Read more >>

Betsalel Cohen

Mortgage Basics - Down-payment, Equity, and LTV | Learn about mortgage terms relating to your property's value and how it aff... Read more >>

Betsalel Cohen

Whether you are refinancing or buying a home you will ask yourself if you can afford the mortgage. Learn to prepare and evalu... Read more >>

Betsalel Cohen

Qualify for a Mortgage | You can get qualified for a mortgage and the best rates by preparing yourself. Make sure that your c... Read more >>

Mark Cappel

Applying for a mortgage with bad credit and a spouse isn't as difficult as you may think. Learn the what lenders look for whe... Read more >>

Betsalel Cohen

PMI | If you are looking to buy a house and take a mortgage loan with a low down payment then PMI can...... Read more >>

Brad Stroh

Refinance My Home? If you are asking 'Should I refinance my mortgage?' or 'Is refinancing my home a good?', then check out ... Read more >>

0 Comments

1500 characters remaining
loading...