Home Buying in 20866>Question Details

Randy, Home Buyer in silverspring

What are some Rates currently out there for a 750 credit rating FHA & Traditional 30 year?

Asked by Randy, silverspring Mon Sep 8, 2008

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This site has various rates posted every Friday, and there has been more on it this week due to the changes resulting from the F&F takeover.

0 votes Thank Flag Link Tue Sep 9, 2008
Hi Randy,

Rates dropped over the past few days. You should be able to get a rate in the neighborhood of 5.5%. I work with some excellent mortgage officers, if you would like a recommendation, please send me an email to LDevnew@cbmove.com If I can assist in any other way, I would be glad to!
0 votes Thank Flag Link Tue Sep 9, 2008
There are three factors that determine your rate. You could have a 680 and still qualify for the same rate as a 750 credit score. As of Monday rates for a 30yr Fixed Rate Convential Conforming loan $417,000 or less, have dropped to 5.625% from 6.25% on Friday. To qualify for this rate you must be able to show your income and put at least 10% down and have verified assets. If you are self employed you need to show your tax returns, all pages and have verified assets. You will not qualify for this rate if you don't plan on living in the home. If you have a 750 credit rating, I would only suggest an FHA loan if you don't have much money to put down. FHA is the replacement for ALT A financing.
0 votes Thank Flag Link Mon Sep 8, 2008
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