Question by Nora S: Is your lender participating with the FHA underwater mortgage refinance program?
Called my lender and was told Nope. NH Housing is my lender.
Best answer:
Answer by SAM
http://nxnoo.com/
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Question by sherri l: when applying for a fha loan is there a web sight so i can wach the rates. iwas told to me that the mortgage b
rates? the mortgage broker said it was up to her to watch the rates, sales but i think its my job to watch for rates. she said today 3/25/08 that with a credit score of 750 my fixed fha rate was 6.25%. I FIND THAT HIGH? there has to be a web site i can find my own rates to lock in.
thank you
Best answer:
Answer by Lisa E
no web site.. each compay has differnt rates. not one will have the same. You will have to shop but do not let them pull your credit. I will tell you rates went up yesterday by a half a point. The rates are based on the market . If the market is doing well then rates go up. if the market is crap then rates go down. The feds do not control the mtg rates. the market does.
What do you think? Answer below!
Sherri, that rate sounds about right for FHA today. The best indicator of mortgage rate movements is the 10 year treasury bond yield – currently around 3.5%. Watch for movements in this figure to see what the mortgage market will do on a daily basis. Be careful about rate quotes you get online and in newspaper ads. As a mortgage broker, I can tell you it is easy to sandbag a quote and then raise the final rate when you’re at closing. Then you’re stuck and basically have to pay whatever I throw in front of you. I won’t work that way, but plenty of mortgage people will so be careful.
If you have to look up rates online, try bankrate.com
With a 750 why are you looking at FHA? There is insurance required that you insure your own potential default? I locked a 725 today at 6% USDA, no money down and no mortgage insurance. If you are looking for a good financial site, I would suggest http://www.bankrate.com. I commend you for wanting to be in charge of your own situation. It is only when you give that control to others, you suffer.