Sentences with phrase «traditional bank mortgages charge»
Traditional bank mortgages charge an interest rate of around 3 % to 4 % and bank credit lenders will charge rates between 7 % and 15 %.
http://mortgagebrokerstore.com/ Not exact matches
«(With an alternative lender), the interest rates are higher, the qualifying rate is higher than if you were going with a traditional bank and they are going to charge one per cent of the mortgage amount (as a lender's fee) for closing, so that means your closing costs increase.»
Since a bad credit mortgage is considered risky, lenders may charge more in fees and interest than a traditional bank lender.