The thing about rates is they change daily...sometimes more than once.

Today I was locking FHA 30 year fixed loans at 5.375% with 0 points.

Today's Rate is for FHA is 5.5%
Call me any day if you want a rate update.
I am not a broker. I am a mortgage banker!
Toll Free 866-488-0040
Thanks
Paul

I disagree with you.

Most lenders on FHA have imposed a min FICO of 620 for an FHA loan, but only a handful have also included a price hit for fico on FHA.

It's OK that we don't agree. Maybe the investors I use are different than the investors you use.

Andrew,

Actually, investors do look at these factors when providing pricing. While not required by HUD, all major investors are taking credit scores into account because they want lower-risk borrowers. A 620 borrower will most likely not receive the same pricing as a 740+ borrower.

Kind regards,

Jason Diperstein
E Mortgage Management
800.793.9633 ext. 156
jdiperstein@emmloans.com
http://emortgagemanagement.com/?page_id=72

Jason,

The question was for an FHA loan.

1. FHA does not have LLPA's for LTV, credit score or cash out...

The rate on FHA today is around 5.75% give or take .125%.

I am a local lender based in Massachusetts with a branch in Boston on Congress street.

Casey,

There's more to it than that. Factors such as debt-to-income, cash-out vs. rate and term, loan-to-value of the property, credit scores, etc. will influence the rate you're given.

Given these factors:

720+ credit score
under 40 Debt to Income
under 80% Loan to Value
rate and term

your rate would most likely be in the 5.5% to 5.625% range depending on the investor. Take note though, changes to any of these factors will greatly impact the exact rate for which you will qualify. You can also buy down the rate by paying points if that's an option you'd consider. If you'd like a rate quote comparison from my bank let me know. Good luck!

Kind regards,

Jason Diperstein
E Mortgage Management
800.793.9633 ext. 156
jdiperstein@emmloans.com

5.75% or less.

I am a Loan Officer. If I can be of assistance, please let me know.

Martin.Smith@Emeryfed.com

Martin

Unfortunatly with the recent rate increases the current rate is around 5.75%