Posts Tagged "5.35%"

Mortgage rate: 5.35%, am I getting ripped off?

on Sep 5, 2012 in FHA Information | 4 comments

Question by jenp: Mortgage rate: 5.35%, view am I getting ripped off? We have an excepted offer on a house, medical and have been doing all the loan paper work and are supposed to close on the house mid to end of may. But I don’t know if the interest rate we were given is a rip off? FHA fixed 5.35%. We both have pretty good credit in the 750’s each. The home we are buying is in minnesota and the mortgage company is out of California. We went with this mortgage company because the home is a forclosure and they stated in the agreement if we went with them they would pay closing cost but if we went with anyone else the closing cost wouldn’t be part of the agreement. And we really like the house and have been looking for 2 years, medications so we went with them. Is this a normal interest rate as of right now? Because I’ve seen a lot of advertisement for under 5% FHA fixed, even wells fargo had 4.85%. But I am new at this so I am not sure how it all really works. 0 points Best answer: Answer by Jonnur475.35% is an average rate for today. However you left out some important details. IE: Origination or Discount points ? Know better? Leave your own answer in the comments! Mortgage rate: 5.35%, am I getting ripped...

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