Financing in 48220>Question Details

Michigan, Home Buyer in Ferndale, MI

What are the interest rates you're seeing for a 30yr fixed fha loan?

Asked by Michigan, Ferndale, MI Thu May 7, 2009

I am purchasing a home and I was told there are different types of fha loans that will affect the interest rate. (1) being the amount of loan I am requested, which is not a lot and (2) being the amount I am using for a down payment. Can you let me know what trends your seeing as far as fha interest rates? I realize that some banks use tiers when assigning interest rates, but was wondering if that's across the board?

0 votes Share Flag Financing in 48220

Help the community by answering this question:

Answers

5
4.75 %-5.15%
Good Luck
A.J.Zaki
1 vote Thank Flag Link Thu May 7, 2009
If it is a standard FHA loan (not a 203k rehabilitation loan) then you could expect 4.75%-5.5% depending on the loan amount and if you are paying points or not. A 203k loan could be 1/2-1% higher

Like the others said, check with 2 or 3 reputable, local lenders to get an idea of what you qualify for
0 votes Thank Flag Link Tue May 12, 2009
It all depends on the lender. Get 3-4 quotes.

I am a mortgage broker. If I can be of service, please let me know!

MSmith@PrecisionFundingUSA.com

Marty

I am on line now!
0 votes Thank Flag Link Sun May 10, 2009
Michigan, You might have some fun looking around here... http://mortgage-x.com/x/state.asp?st=MI
0 votes Thank Flag Link Sat May 9, 2009
Just to ask, have you looked into qualifying for a mortgage through a MSHDA approved lender. If you qualify, they may offer lower interest rates. http://michigan.gov/mshda

Wish you luck.
Web Reference: http://mi-living.com
0 votes Thank Flag Link Sat May 9, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer