Home Mortgage Advice

Home loan interest rate – I was misquoted?

My husband and I are buying a home. The house we are looking at about $ 73,000. We were quoted a 6.25% stake Price for a 30-year note with a monthly payment of $ 908 (without TTI). That seemed quite excessive. Coming home, while the calculations (on bankrate.com ) 's mortgage calculator, a 30-year note of $ 73,000 at 6.25% interest rate should, at a $ 450 monthly payment. To my monthly payment until you get to $ 908, I had my interest rate to 14.75%. Now, the investment bank, said the 6.25% was not the April What does this mean? Why should I have two interest rates, and why is such a much higher than the other? If we pay $ 908 per month, we end up paying $ 326,000 for a $ 78,000 home. This seems a little strange for me. Anyone who has experience to share with financial wisdom, no? That was only the man who is selling me the house, who put everything together for the loan application. The total cost including The TTI was $ 1208.

to another lender .. Your payment of $ 73,000 at 6.25 $ 445.69 is not "illegal" for lenders disclose "April and" that's a big difference .. It is usually only, and this is an ap …. Added 2% of the loan to make your $ 73,000 Monthly payments ap. $ 457.00 so …. sign, in other words, if you do not like what it says about the lender "April did not" … get others Lenders .. $ 908 for a monthly Payment will receive a $ 148,000 home at 6.25% and another lender ………." Citi Bank "and" Bank of America "are actively looking for new customers and if you have a referral card for Bank of America, you get money back ..