How much can I expect for an interest rate on a fixed interest rate mortgage on an FHA loan?
Posted by admin | Under FHA Mortgage Monday Nov 17, 2008What does it depend on? Are FHA loans always the same rate on the same day, know what I mean?
My score is bad, the only thing I have is good credit history for the past few years.
I think it's like 580 
5% last I checked; you should know that you can get the best rate by paying points; this is well worth the upfront expense unless you are planning to sell the home in the next 3-5 yrs or so…
5% last I checked; you should know that you can get the best rate by paying points; this is well worth the upfront expense unless you are planning to sell the home in the next 3-5 yrs or so…
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rates are checked every morning.
your income documentation
and credit are the main guides here.
if you are going full doc, which you have to go with FHA then your mid FICO is what determines your rate. if you have like a 650, you will mostly like get like a 7
700= 5
get it?
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I was a Loan Processor
It all depends on your credit score and the plan rate. For more information you can check out the following web site. Good luck.
http://www.fhaloan.com/
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Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every month<!–therefore it is always a good idea to keep an eye on what the rates are doing. If interest rates should rise, so will your monthly payments and again, if interest rates were to fall, so would the amount you would have to pay.
http://mortgages-finance.awardspace.com/Mortgage-Rate-Compare.htm
Monthly repayments made on your mortgage and the amount that was borrowed, is determined by current mortgage interest rates. Different–>companies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.
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