Updated over 8 years ago on . Most recent reply
interest rates in the US vs NZ
Just want some clarification about interest rates in the US. Say for example when people post they have a conventional 30 year fixed loan @ 5% with 20% down, am I right in assuming that the interest rate will be fixed at 5% for the whole 30 years? Just wondering as in New Zealand we can get 30 year loans but the majority of lenders will only fix the interest rate for maximum of 5 years.
Many thanks
Trudy
Most Popular Reply
hi @Trudy B. at the moment I'm buying in Arkansas, And looking for deals in Memphis and considering Houston, I have relatives in Houston.
I'm working with a lender, it's like a mortgage broker and they can possibly help you.
Some US lender will not provide conventional loan to non US citizen, and dome small local banks will not loan to out of state. I'm a US citizen with credit record and filing tax returns in the US now.
You need these 2 things to qualify for loan. Unless you go hard money... which is expensive and often kill the deal.. especially if you cant refy. (Hard money is usually short term money)
Feel free to PM me if you have any other questions, or just post here.