Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am interested in moving to long island, just wondering what is the current FHA interest rate?
Thanks
Like all mortgage rates, it varies and also depends on your credit score, etc.
However, with many lenders the rates are lower than an equivalent conventional loan. Recently, I've seen FHA rates below 4%.
Of course you'll have MIP (mortgage insurance) for the length of the loan, and that can add up .
my rate was quoted for 4% for fha is that high? my score is 681
That is pretty much where the market is give or take an 1/8 which really doesn't mean much. Keep in mind what you get quoted now really doesn't mean anything. Rates can change every single day with movement in the 10 year, so it could be different by the time you actually find a property and get into contract.
I already signed the contract, my loan amount is 343,000. I am getting ready to lock in my rate, but I'm thinking of buying it down to 3.875, but it will cost me around $4,000 to buy down? do you think its worth the price? It not a big difference in the payment ..
I already signed the contract, my loan amount is 343,000. I am getting ready to lock in my rate, but I'm thinking of buying it down to 3.875, but it will cost me around $4,000 to buy down? do you think its worth the price? It not a big difference in the payment ..
It really doesn't make much sense to buy it down that much for 1/8. Out of curiosity how did you go from interested in buying on Long Island to in contract and ready to lock in a rate in a matter of a few days??
I've been looking for a long time to find my dream house, almost a year. I was already approved for a mortgage and ready to go... I saw the house on the 10th, went back to see it a couple times.. I made an offer on the 15th, did the inspection same day. I had to move quick, lots of offer on this house and I didn't wanna lose out on it as I did in the pass procrastinating because I really liked the house which is saying a lot because I rarely ever like anything, I am very picky and a little weird lol I signed the Contract last night and now thinking of locking-in..
I've been looking for a long time to find my dream house, almost a year. I was already approved for a mortgage and ready to go... I saw the house on the 10th, went back to see it a couple times.. I made an offer on the 15th, did the inspection same day. I had to move quick, lots of offer on this house and I didn't wanna lose out on it as I did in the pass procrastinating because I really liked the house which is saying a lot because I rarely ever like anything, I am very picky and a little weird lol I signed the Contract last night and now thinking of locking-in..
Ok, the initial post made it seem like as of the 20th you were just thinking about moving into Long Island and simply wondering where rates were. However, not yet in the process of finding a home you liked and making an offer. That is why I questioned it, because of the wording in the intial post wasn't I am in contract or about to be in contract, but rather thinking of moving.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
.
