Financing in Racine>Question Details

Jjohnson, Other/Just Looking in Waukesha, WI

What is the approximate interest rate on an FHA loan with a credit score of 650? I am looking to purchase a home for $100,000 with $10,000 down and

Asked by Jjohnson, Waukesha, WI Sun Jul 18, 2010

am wondering approximately what my monthly payment will be including the mortgage incurance premium. Thank you!

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Duane Murphy’s answer
Our local rate for FHA this past week was around 4.625%. This however will vary by lender and by area. Your best bet is to contact a reputable local lender for a more accurate rate.

Best Regards!
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1 vote Thank Flag Link Sun Jul 18, 2010
The rate will be affected by your credit score. Your best bet is to meet with a local and trusted mortgage broker, they can prequalify you at no cost and let you know if you do quailify for a fha loan, they can quote you an interest rate and terms. Good luck with your search for a mortgage.
0 votes Thank Flag Link Sun Jul 18, 2010
your best bet would be to speal to a loan officer..If you need a referral to a local lender, please let me know..Thanks! Mini Samuel
0 votes Thank Flag Link Sun Jul 18, 2010
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