Re: Buying a home: BoFa lenders, follow-upwards inquiries
ThisJustIn blogged: ^ Thu erica home loan professional past, and i performed inquire him every You will find, but i have some realize-upwards questions, because some people have attempted loans with other finance companies / borrowing from the bank unions / https://paydayloancolorado.net/aspen-park/ others:
1) My personal FICO rating came back because of the Bank from America membership online is 748. The home mortgage pro mentioned that this is usually an overestimate of the real FICO rating. So is this correct, has actually individuals knowledgeable this? Also, its speed for FICO rating out-of 748 are step three%, however, if I experienced 780+ FICO get, then the rates was dos.75%. Has actually anyone utilized BoFa home loans, and contains people attempted to increase their credit history so you’re able to 780+? How can i increase my credit rating as fast as possible?
2) Spending downpayment which have margin financing having fun with Entertaining Agents: Interactive Brokers provides which nice margin mortgage alternative which have step one.59% up until 100K, and step 1.09% having more than 100K. I’m almost totally committed to stock market, and i don’t want to sell, so i desire to use margin loan (state import 400K in order to IBKR, in which particular case they will certainly provide myself 200K, and that is perfect for 20% down-payment of a 1M home).