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alexm2816 t1_iyd3si6 wrote

What is the loan term (30 years or 15) and what is your interest rate?

For a $96,500 loan to end up at $800 a month before taxes you're talking about 9.375% on a 30 year or 5.75% on a 15 year.

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Eldengames OP t1_iyd4okf wrote

The loan term is over 30 years, I'm working right now with the agent to find the interest rate so hopefully I'll be able to let you guys know here shortly.

Would it be best to shop this around before finding a house or is the process short enough with other lenders that I can do this after finding one?

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alexm2816 t1_iyd5l6n wrote

If you're being extended a >9% rate from a lender I'd be bailing on them ASAP. That's a bit of a joke even in today's mortgage market.

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