You should be under 6% for an FHA 30 year fixed right now. If you are getting a 30 year fixed loan it can make sense to pay more for a lower rate if you plan to be in the property for a long time. If the monthly savings will pay for the up front costs in a few years. It can be a very good strategy to negotiate to have the seller pay points to buy down the rate on a 30 year fixed loan.

Under 6% if you have good credit. Accurately comparing loans requires building a spreadsheet and determining the length of time you plan to have the loan. The reason it is not as simple as comparing interest rates is because there are many different loan programs available. Some pay your closing costs, some charge points, etc.

We provide these types of analysis at Bombora Investments for free.