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re: Where to shop for Mortgage rate? Online?
Posted on 11/8/13 at 9:41 am to wickowick
Posted on 11/8/13 at 9:41 am to wickowick
I'm attempting to refi right now and the loan officer is insisting on going FHA and I'm not sure thats the best option. I have <80% LTV and FHA still requires PMI for the life of the loan. One strike against me though is that I accidently screwed up and got a 30 day late on my mortgage in January. I'm thinking it may be best to wait until that falls 12 months back and then attempting to refi, but I don't want to take a chance on the rates going back up.
1
Posted on 11/8/13 at 11:08 am to supadave3
do not go FHA.. the loan officer may not be able to get a conventional approval with the late pay in the last 30days. just wait unitl jan. when it falls off..btw whats your credit scores? you will need 680+ for conventional to work in your favor..also remember this little secret if your working with a broker they get paid double on FHA loans then they do conventional loans.
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