St Louis Mortgage Interest Rate Update; First-Time Homebuyer Mistakes

Not knowing what you can afford – What the lender says you can afford and what you know you can afford may not necessarily be the same. Looking at homes that are outside your price range can put you in the dangerous position of trying to stretch beyond your financial means. Be sure to consider all of your monthly expenses when budgeting for your anticipated mortgage payment.

Additional expenses – As a homeowner you’ll have additional expenses on top of your monthly payment. Property taxes and homeowners insurance are typically considered in your monthly mortgage payment, however asscoiation fees, maintenance and/or repairs should also be considered.

Neglecting to inspect – Keep your feelings in check until you have an inspection and get a full picture of the house’s physical condition and the soundness of your potential investment. This will help you avoid making a serious financial mistake.

Being too picky – Go ahead and put everything you can think of on your wish list, but don’t be inflexible if you don’t get everything. You may have to live on a busy street, accept outdated decor, make some repairs to the home or forgo that extra bedroom if your funds are limited.

St. Louis MORTGAGE INTEREST RATES for October 19, 2011:

  • Conventional 30-Year Fixed 4.25%/ 4.449% APR
  • Conventional 15-Year Fixed 3.50%/ 3.699% APR
  • Conventional 5/1 ARM 2.750%/ 3.159% APR
  • FHA/VA 30 Year Fixed 4.125%/ 4.525% APR
  • Jumbo 5/1 ARM 3.125%/ 3.266% APR
  • Jumbo 15 yr Fixed 3.625%/ 3.875% APR
  • Jumbo 30 yr Fixed 4.875%/ 5.125% APR

*The above mortgage rates are based upon an 80% LTV, o/o single family with FICO scores of 720.

Paramount Mortgage is a locally owned Mortgage Banker; we just celebrated our 40th anniversary. Great rates and programs are secondary to what is most desired in a lender relationship. The most sought-after aspects in this industry cannot be easily translated onto paper…learn more about us here.

For more information or if you have questions on mortgage rates you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.

Print Friendly, PDF & Email

11 comments to St Louis Mortgage Interest Rate Update; First-Time Homebuyer Mistakes

  • … [Trackback]

    […] Find More Info here on that Topic: stlouisrealestatenews.com/st-louis-interest-rates/st-louis-mortgage-interest-rate-update-first-time-homebuyer-mistakese/ […]

  • … [Trackback]

    […] Read More Info here on that Topic: stlouisrealestatenews.com/st-louis-interest-rates/st-louis-mortgage-interest-rate-update-first-time-homebuyer-mistakese/ […]

  • I have been absent for a while, but now I remember why I used to love this website. Thanks , I will try and check back more frequently. How frequently you update your site?

  • … [Trackback]

    […] Read More Info here to that Topic: stlouisrealestatenews.com/st-louis-interest-rates/st-louis-mortgage-interest-rate-update-first-time-homebuyer-mistakese/ […]

  • Thanks for sharing superb informations. Your site is very cool. I’m impressed by the details that you’ve on this site. It reveals how nicely you understand this subject. Bookmarked this web page, will come back for more articles. You, my friend, ROCK! I found simply the info I already searched all over the place and simply couldn’t come across. What an ideal website.

  • Definitely believe that which you said. Your favorite justification seemed to be on the web the easiest thing to be aware of. I say to you, I certainly get irked while people consider worries that they plainly don’t know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side-effects , people could take a signal. Will probably be back to get more. Thanks

  • I have been absent for a while, but now I remember why I used to love this web site. Thanks , I will try and check back more often. How frequently you update your site?

  • Hello! I just would like to give a huge thumbs up for the great info you have here on this post. I will be coming back to your blog for more soon.

  • … [Trackback]

    […] There you can find 96433 additional Info to that Topic: stlouisrealestatenews.com/st-louis-interest-rates/st-louis-mortgage-interest-rate-update-first-time-homebuyer-mistakese/ […]

  • I like what you guys are up too. Such intelligent work and reporting! Keep up the superb works guys I have incorporated you guys to my blogroll. I think it will improve the value of my website :).

  • Fantastic beat ! I would like to apprentice while you amend your site, how can i subscribe for a blog web site? The account aided me a acceptable deal. I had been tiny bit acquainted of this your broadcast provided bright clear concept

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>