If you’re a prospective first time home buyer, now is an excellent time to take advantage of the low rates that are being offered on FHA loans.
Buying a new home can be a daunting undertaking, especially if you’ve never purchased a home before. The need for a sizable down payment can keep many people from even thinking about becoming a homeowner. The good news is that if you have a good credit and employment history, you may be able to qualify for an FHA mortgage with only a 3.5 percent down payment.
Today we are offering qualified borrowers 30 year fixed FHA loans at the rate of 3.625% with an APR of 4.975%. This is one of the lowest rates we’ve ever been able to offer, but there is no telling how long it will last. There is upward pressure on mortgage rates as a result of steadily strengthening U.S. economic data. The situation in Europe is helping to keep rates low, but if a long term debt solution is reached, we could see rates increase sharply.
To find out if you qualify for our low FHA rate, call us today at 877-868-2503. One of our licensed mortgage professionals can help you decide if an FHA loan is right for your financial future.
*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 1 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, one points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.
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