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Posted on Oct 18, 2012 in HARP Refinance

Question by Joshua K: Is a FHA 30 yr fixed mortgages interest rate changeable?
I was told by someone that depending on the loan the interest rate can go down but not up on some FHA 30 fixed rate mortgages. Is this true?
I know its fixed and I know what that means but it is a FHA loan. For example I also heard that they can be assumable which standard loans are not. Are they also not assumable? Have I been missinformed here also?

Best answer:

Answer by alterfemego
Not on a fixed rate. If a lower rate is available, approved side effects you need to refinance.

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