What are the current rates for a 30 year fixed FHA mortgage? Can you pay discount points?
I am considering a FHA loan. I would like to avoid mortgage insurance if at all possible. Am I allowed to put 20% down or get a piggy back loan for 10-15%? Basically, I'm not sure if a FHA or conventional loan is best. First-time homebuyer Credit = 725ish Pre-qualified for $80k Probably getting a $70k home. Please give me some advise. Thanks in advance!
Public Comments
- With your score, and 20% down payment, it's a no brainer. Don't go FHA. Get a conventional loan, 80% LTV, no PMI. I wish all my buyers were like you. And smart too! Buying less than you qualify for. I'm proud of you!
- Hi Amanda , I have had a home Through FHA (Farmers Home Admintstration) Fixed rate ...varies . They do go by your income monthy. You can get a fixed rate as low as 6% if you meet requirments. I would never use anyone else !...lol...lisa
- All the help you will need! With your credit you probably will get somewhere around 5-6%, but it doesn't really matter because we have a software that will show you how to pay your home off in 7-10 years anyway, eliminating your interest! Honestly go to www.savingthousandsininterest.com and watch the video and give us a call! Glad to be of help!
