What is the average home loan interest rate in America?
I am 53 years of age, currently newly employed with an annual income of $ 60,000. This would be my first job ever since coming to America 2 years ago. I have 12 more years left on the job. I am single and no children are dependent on me. I am looking towards buying a single family home and would like to know what sort of house with what sort of price tag should I be looking for.
I can make a down payment of $ 30,000 and my daughter has promised to contribute a further $ 70,000. I am also, after careful calculations, have decided that I can pay about $ 1,600 per month. Can anybody tell me what sort of interest rate the bank might be burdening me with? What is the average home loan interest rate in America?
Say for example, in America you bought a house worth $ 100,000; what would be the additional, average interest rate on that one? Thank you for answering my question.