Why are VA mortgage interest rates higher than conventional and FHA?

Posted on Aug 26, 2012 in FHA Information

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by SS&SS

Question by JH: What credit bureau do loan officers or underwriters look at to calculate a 620 credit score for a FHA loan?
There is Experian, find drugs Equifax and Transunion I have different scores for each, symptoms but which one do loan officers and underwriters look at to approve you for an FHA insured loan? Do they look at the highest, treat lowest or average?

Best answer:

Answer by SPIFIMAN1
They will look at all 3 and use the middle score.

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Question by : Why are VA mortgage interest rates higher than conventional and FHA?

Best answer:

Answer by Fort Sill Army Wife
Im not sure what they are now, viagra but when we got our house in Jan 2009 our rate was 5.5 fixed and Im not complaining about it…We didn’t have to have a down payment and no pmi . Id rather have a slightly higher (if at all higher) interest rate then pay for pmi and 20% down payment

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One Comment

  1. Depends on what lender you are looking at. We use Citi for most of our VA loans and they are priced the same as FHA and are slightly better right now than Conventional. Some lenders do have higher rates because they do 100% financing and have no minimum credit score requirements.