What is rate for FHA 30 year fixed mortgage for today? (loan, interest rate)

[Mrs.Bewitched]

At work and dont' have time to figure it out....thanks!

[ajpacino]

at par its 5.875%

[renriq02]

depends on loan amount...
state..
credit score
30 day lock or 15?
Will it require manual underwrite?
cash out refinance or purchase?

Originally Posted by mrshvo

At work and dont' have time to figure it out....thanks!

[Mrs.Bewitched]

Originally Posted by renriq02

depends on loan amount...
state..
credit score
30 day lock or 15?
Will it require manual underwrite?
cash out refinance or purchase?

State is FL. We would be making closing on 4/30. My credit score is 675 and my husband's is 680...but for some reason, I was told I have better credit even though his score is higher.

Here is a copy and paste from part of GFE I received today from BOA:

Purchase Price $180,000
Loan To Value / Combined Loan to Value 97.000 / 97.000 %
Loan Amount 1st / 2nd $177,219
Term Of Loan 1st / 2nd 360 Months
Balloon Product 1st / 2nd No
Initial Interest Rate 1st / 2nd 6.875 %
Index 1st N/A
Margin 1st N/A
Actual Market Rate Today 1st 6.875 %
Qualifying Interest Rate 1st / 2nd 6.875 %
Maximum 1st Rate Increase/Frequency N/A
Lifetime Maximum Increase 1st
Annual Percentage Rate 1st / 2nd 7.657 %
Origination Points 1st 1.000 %
Discount Points 1st / 2nd -0.333 %
Total Points 1st / 2nd 0.667 %

[renriq02]

I didnt know BofA did FHA loans.....
You should shop around.

You should definitely get a lower rate IF your doesnt require manual underwrite.

Originally Posted by mrshvo

State is FL. We would be making closing on 4/30. My credit score is 675 and my husband's is 680...but for some reason, I was told I have better credit even though his score is higher.

Here is a copy and paste from part of GFE I received today from BOA:

Purchase Price $180,000
Loan To Value / Combined Loan to Value 97.000 / 97.000 %
Loan Amount 1st / 2nd $177,219
Term Of Loan 1st / 2nd 360 Months
Balloon Product 1st / 2nd No
Initial Interest Rate 1st / 2nd 6.875 %
Index 1st N/A
Margin 1st N/A
Actual Market Rate Today 1st 6.875 %
Qualifying Interest Rate 1st / 2nd 6.875 %
Maximum 1st Rate Increase/Frequency N/A
Lifetime Maximum Increase 1st
Annual Percentage Rate 1st / 2nd 7.657 %
Origination Points 1st 1.000 %
Discount Points 1st / 2nd -0.333 %
Total Points 1st / 2nd 0.667 %

[TimtheGuy]

6.0% plus 1/2 point origination fee for FHA. Been at that rate for a while with me.

[Mrs.Bewitched]

I already had signed with them and been approved....back when I first started house hunting I was told it was 6%...we received the signed contract on 4/7 and I inquired about when to lock in rates on 4/9, but she didn't let me know anything until today so I don't know what was taking so long...

How would I find out about this underwriting thing?

Thanks for your help....

[Mrs.Bewitched]

Originally Posted by TimtheGuy

6.0% plus 1/2 point origination fee for FHA. Been at that rate for a while with me.

I wonder why she is quoting me so high....

[renriq02]

I would still see if you can get a lower rate.

I had a loan FHA approval in 5-6days...so I know it can be done.

You will know if it requires a manual U/W when the lender tells you

Originally Posted by mrshvo

I already had signed with them and been approved....back when I first started house hunting I was told it was 6%...we received the signed contract on 4/7 and I inquired about when to lock in rates on 4/9, but she didn't let me know anything until today so I don't know what was taking so long...

How would I find out about this underwriting thing?

Thanks for your help....

[renriq02]

she's making at least 4-5 points front/back

Originally Posted by mrshvo

I wonder why she is quoting me so high....