Question Details

Shanna, Home Buyer in Alabama

What is the best way to find the lowest interest rate? We are looking for a 30yr fixed with excellent credit.

Asked by Shanna, Alabama Thu Mar 20, 2008

We are also qualified for a VA Loan.

Help the community by answering this question:


Depends on the Loan-to-value. If the loan to value is high then you can use VA. If this is your 2nd time using the VA then the funding fee is around 3.3% OR if this is a conventional refinance going to VA then it's 3.3%.
FHA is only 1.5% but you have to pay the monthly MIP payments. With VA you only pay at closing, but the funding fee is a lot higher than the FHA.

The best way to find out is to shop around
0 votes Thank Flag Link Fri Mar 21, 2008
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