« Did our government officials wait until a major hedge fund cried wolf to announce an FHA credit bailout?
I see from some other questions that HUD can help with repairs. Is there a $ limit or just by choice to sell? »

Current FHA Mortgage Rate?

I am supposed to refinance on Sunday from a fha at 6.5% rate to a 5.5. my payment is approx 1670 with interest and all and will be down to 1535 with the refinance. He stated that my escrow will be sent and I can keep it (1200) and i can skip my march payment which will basically give me 300 in the pocket. I didnt really want money back i just wanted my payments lowered by 250 or so to adjust for my other issues that occured. Is 5.5 30 fixed a excellent rate or will there be something with this stimulus that will drop housing to 4.5 or so. He also said I can refinance again after about 6months if the rates got lower, AM I BEING DOOPED? just so they can get a sale or does it pass the smell test. THanks.O my new mortgage is noe 228,000 it was 225,000. He did say that i could pay points but it would cost me the 00 they giving me to just drop it .5% which is only about bucks he says
when you mean mortgage rate you simply speaking of the cost right or do you mean also the interest part because im currently paying about 1670 but I believe 200 of it is insurance and all the other stuff i get billed. I yucky according to my base salary 4700(on the higher end) so that means i should qualify right. I only had my home since septmeber(new construction townhome)…am i really eligible for the new deal?

Related FHA and HUD Posts

Tags: , , , , , , , , , , ,
Tags: , , , , , , , , , ,

This entry was posted on Tuesday, June 9th, 2009 at 1:28 pm and is filed under FHA Refinance Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Top incoming search terms for this post

One Response to “Current FHA Mortgage Rate?”

  1. Judy says:
    June 9, 2009 at 1:28 pm

    Never pay points.
    Unless you plot to stay in the home without refinancing for a full 15 years.
    Watch a bit of CNBC today if you have time.
    If your current mortgage is more than 31% of your yucky income, you will qualify for the new mortgage refinancing at under 5% with no closing costs to you and $1,000 gift / year towards your principal.
    IF, and only IF your current payment is more than 31% would I place that new company on hold.
    On March 4th, you will be able to call your currrent company and re-finance with this new deal.
    /

Leave a Reply

Tags: base salary,  escrow,  FHA,  insurance,  money,  mortgage rate,  new construction,  new deal,  new mortgage,  smell test,  stimulus, 

Recent Posts:

Latest FHA 203k Auctions
FHA Mortgage Limits.mp4
Mortgage Loan Tips.
FHA Streamline Refinance Bad Deal
Difference Between Home Loan Modification And FHA Refinance

Related results on Current FHA Mortgage Rate?

  1. Adjustable Rate Mortgage Rescue | best refinance mortgage rate

    With the FHA Secure program, which is possible to refinance up to 97.75% of your homes current estimate. There will also be allowed, with the end of the mortgage payments until the refinancing occurred after an increase in your interest ...

  1. FHA mortgage and FHA Home loan Guidelines make it easy to qualify ...

    FHA mortgages to buy a home or refinance FHA mortgages are quickly and easily mortgages FHA home loans FHA allow home buyers and current owners refinancing to buy a house with less than 4% deposit or FHA mortgage up to 97 75% of the value .... Premium adjustments: There is no adjustment of interest rates ?penalties? for values higher than FHA loans with fixed rate loans. The rate is the rate is the rate of exchange. Secondary Financing: Financing Postsecondary Education n ...

  1. WHY an FHA Mortgage over other Home loan options?

    FHA does not provide money to grouping for a bag and it does not ordered the welfare rates on mortgages it insures. bureau insures loans for lenders against defaults. For the prizewinning welfare evaluate and outlay on a mortgage, ...