| View previous topic :: View next topic |
| Author |
Message |
Dental Guy
Joined: 22 Mar 2008
Posts: 3
|
| Posted: Sat Mar 22, 2008 6:06 pm Post subject: FHA Loan Question |
|
|
Hello, I am currently trying to buy my first home using a FHA Loan through Countrywide.
I am wondering if a 6.25% interest on a 30yr mortgage is too high? |
|
| Back to top |
|
liverichly
Joined: 10 Feb 2005
Posts: 198
Location: Orange County, CA
|
| Posted: Sat Mar 22, 2008 9:01 pm Post subject: |
|
|
| Countrywide generally has high interest rates. What is the loan amount you are going for? |
|
| Back to top |
|
Dental Guy
Joined: 22 Mar 2008
Posts: 3
|
| Posted: Sat Mar 22, 2008 9:31 pm Post subject: |
|
|
| I have been preapproved for 95 K but the house is in foreclosure and the seller is motivated. I think I can get it for less than that. I am putting down 5% no matter what even though they only require 3% down payment. |
|
| Back to top |
|
liverichly
Joined: 10 Feb 2005
Posts: 198
Location: Orange County, CA
|
| Posted: Sun Mar 23, 2008 1:14 am Post subject: |
|
|
| If there aren't any points it's in line because of the smaller loan amount. Often lenders have rate adjustments for anything under $100k. You should try another lender for a second opinion though. |
|
| Back to top |
|
E.T. Home Loan
Joined: 19 Feb 2005
Posts: 74
Location: OUTER FREAKIN SPACE
|
| Posted: Mon Mar 24, 2008 5:11 pm Post subject: |
|
|
| You could get 5.875 as of today. |
|
| Back to top |
|
rationale
Joined: 08 Jan 2008
Posts: 12
|
| Posted: Wed Aug 06, 2008 8:07 pm Post subject: |
|
|
| Hey DentalGuy, were you able to close on this loan? |
|
| Back to top |
|
| |
