Home Buying in Staten Island>Question Details

Giovanni, Home Buyer in New York, NY

WHAT IS THE AVERAGE FHA RATE IN NEW YORK CITY FOR SOMEONE WITH FICO SCORE OF 725?

Asked by Giovanni, New York, NY Fri Dec 19, 2008

I am purchasing a house in NYC with FHA financing but have not locked the rate yet. Every time my banker gives me the current rate i feel it is almost 1 % higher then it should be. Is there a website i can daily check on the FHA rate?

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Answers

2
Hi Giovanni,

I think you should check with a mortgage professional rates are changing very often lately. I had a mortgage rep. tell me that FHA charges an additional fee even if the buyer has 20% down or more. He made it sound like a PMI fee. Sounds strange but it may be true. Please check with someone who writes loans. I came across this site, hope it helps you.


http://www.fha-home-loans.com/rate_finder.htm (just copy and paste it)

Arlene Trunzo,Board Certified Real Estate Broker
A..T. Real Estate Specialists LLC
cmyrealtor@aol.com
0 votes Thank Flag Link Fri Dec 26, 2008
I hear that the treasury dept is considering a plan to push mortgage rates to 4.5% levels. Lets hope it happens. And FHA is not credit score driven.

grandfinance@gmail.com
0 votes Thank Flag Link Sat Dec 20, 2008
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