Financing in Torrance>Question Details

Bart, Home Buyer in 94538

What a good rate for on cash out refinance loan?

Asked by Bart, 94538 Sat May 28, 2011

Hi Guys and ladies:

Thanks everybody; you have been very helpful.

OK. What’s a good interest rate for FHA Cash out refinance loan? I have search the net for some place that’s reliable where they post the daily rates and I have found nothing. Anybody know a good link?

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Answers

2
The rate for a cash out FHA refinance should be the same as a FHA purchase or just a regular refinance, as there is no adjustment to the rate for "cash out" on FHA transactions like there is for "cash out" on conventional.

There are bank websites which will list what their prevailing interest rates are for certain loan programs, usually assuming all of the best case numbers (because who would advertise anything less than their best rates?), but like Gregorio said they may or may not apply to your situation. Websites that list multiple lenders or brokers interest rates usually are worthless since the information can be outdated, inaccurate, and/or deliberately misleading (check out the bait & switch lawsuit BankRate.com has faced).

Best way to get an accurate idea is to seek out at least 3 different mortgage loan officers to go over your situation, their options, rates & fees.
0 votes Thank Flag Link Sun May 29, 2011
Rates are specific to each person's situation and requires investigation. While you can find rates posted online, you have to know that it is impossible to post rates for every scenario so what you see posted may or may not apply to you. To get an accurate rate quote, contact a licensed loan officer in you state; if you would like one, please contact me.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Sat May 28, 2011
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