Question by Patricia A: I am applying for an k FHA mortgage loan. What kind of interest rates will I get?
My wife and I are purchasing a foreclosure and got preapproved for a loan for $ 90k. I will actually only need $ 81k for the FHA loan. My credit is around a 650 and hers is around 670-700 range. What kind of interest rates will we get approved for? I know interest rates are extremely low right now.
Best answer:
Answer by Mikey
The news is reporting 4.5 percent interest on a 30 year fixed.
With your credit score I would expect about 5 to 5.5 percent.
An FHA will not have PMI……………
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