Question by Nora S: Is your lender participating with the FHA underwater mortgage refinance program?
Called my lender and was told Nope. NH Housing is my lender.
Best answer:
Answer by SAM
http://nxnoo.com/
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Question by sherri l: when applying for a fha loan is there a web sight so i can wach the rates. iwas told to me that the mortgage b
rates? the mortgage broker said it was up to her to watch the rates, sales but i think its my job to watch for rates. she said today 3/25/08 that with a credit score of 750 my fixed fha rate was 6.25%. I FIND THAT HIGH? there has to be a web site i can find my own rates to lock in.
thank you
Best answer:
Answer by Lisa E
no web site.. each compay has differnt rates. not one will have the same. You will have to shop but do not let them pull your credit. I will tell you rates went up yesterday by a half a point. The rates are based on the market . If the market is doing well then rates go up. if the market is crap then rates go down. The feds do not control the mtg rates. the market does.
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Sherri, that rate sounds about right for FHA today. The best indicator of mortgage rate movements is the 10 year treasury bond yield – currently around 3.5%. Watch for movements in this figure to see what the mortgage market will do on a daily basis. Be careful about rate quotes you get online and in newspaper ads. As a mortgage broker, I can tell you it is easy to sandbag a quote and then raise the final rate when you’re at closing. Then you’re stuck and basically have to pay whatever I throw in front of you. I won’t work that way, but plenty of mortgage people will so be careful.
If you have to look up rates online, try bankrate.com
With a 750 why are you looking at FHA? There is insurance required that you insure your own potential default? I locked a 725 today at 6% USDA, no money down and no mortgage insurance. If you are looking for a good financial site, I would suggest http://www.bankrate.com. I commend you for wanting to be in charge of your own situation. It is only when you give that control to others, you suffer.