just wondering, because we’ve been looking at buying a house and we were pre approved 6 months ago @ 4.75% (not a jumbo loan, less than 250k) we would like to put 20k down, probably not 20%.

What are the rates for a traditional 30 year fixed, compared to the FHA loan interest rate? Thanks!

Hi all,

I am having a meeting with my bank on Monday regarding getting a loan to pay off my existing debts.
I had a shop around at weekend and looked into other companies to get a loan including looking at USwitch which is good at finding loans that are cheaper to pay off.

Unfortunately I was unaccepted – think it has something to do with the fact that I have just changed jobs 4 months ago – in full time employment though and I asked for a big loan of 10.000 when I am renting my property so it not secured as such. Think Homeowners have better chance of being accepted than me at the moment.

I just want to pay off all existing debts – have a loan and a credit card I want to pay off.

My question is what questions should I ask them and what do I do if they go refusing me a loan – I can’t afford to pay things out all at different dates and amounts.

I just want one monthly payment that covers everything! I have cut up credit card.

Please help!

Lx

I know that APR is higher than simple interest rate, becuase they add cost of borrowing, etc. What I am not sure about is, how do they calculate APR. Secondly, does a higher APR means higher montly payment? Or is it just higher upfront cost. Is the PMI included in the APR math?

Please give an example, comparing 2 different loans with same simple rate, but differnet APR. Thanks