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What is a normal mortgage loan rate for someone with no credit? (Living in Central OK)?

May 262011

I am looking online at some houses and have never tried to buy one before. I’ve always rented. I live in Central Oklahoma and have next to no credit. I know the range is like 5-10%, but that’s about all I know

How/why do interest rates set by central banks affect market/retail interest rates?

Mortgage Loan 1 Response »

May 032011

I understand that central banks (the Fed in the U.S. and the Bank of England in the U.K.) set their own interest rates for lending to / taking deposits from the Government and commercial banks. What I don’t understand is how/why the rate set by the central bank affect the rates charged by my bank [...]

What is a normal rate mortgage loan for someone who has no credit? (Living in central OK)?

Mortgage Loan 5 Responses »

Feb 022011

I’m looking online at some houses and have never tried to buy one before. I’ve always rented. I live in central Oklahoma and have almost no credit. I know that the offer is like 5-10%, but that’s all I know

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