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Started By
Message
FHA Loan Rates..
Posted on 1/21/10 at 2:34 pm
Posted on 1/21/10 at 2:34 pm
Just got a "good faith estimate" from Hancock and Iberia Bank
Both were essentially the same:
4.75% - 1% origination
5.0% - no origination fee
Total closing costs are around $4500-5000.
Keep shopping?
Both were essentially the same:
4.75% - 1% origination
5.0% - no origination fee
Total closing costs are around $4500-5000.
Keep shopping?
5
Posted on 1/21/10 at 3:39 pm to Golfer
quote:
Total closing costs are around $4500-5000.
That might be high depending on house cost..
I got a 5.0 rate from NASB through lending tree with no fee but closing costs were a little bit lower than that for a 200k house. They were 2700.
Posted on 1/21/10 at 3:41 pm to Catman88
quote:
They were 2700
I'm including 1 year of Homeowners and Prop Tax to escrow for this as well.
Posted on 1/21/10 at 4:03 pm to Golfer
quote:
Just got a "good faith estimate" from Hancock and Iberia Bank
Both were essentially the same:
4.75% - 1% origination
5.0% - no origination fee
Total closing costs are around $4500-5000.
Keep shopping?
FWIW, I got these same rates from two different lenders.
Posted on 1/21/10 at 4:08 pm to kengel2
quote:
FWIW, I got these same rates from two different lenders.
Yea, I called a few more places and none could match that. Looks like I'm going to be going with one of them.
Posted on 1/21/10 at 6:46 pm to Golfer
what is your credit? I have excellent.
just locked in with whitney bank
4.75 and NO ORIG FEE. that was yesterday
I checked multiple places
just locked in with whitney bank
4.75 and NO ORIG FEE. that was yesterday
I checked multiple places
Posted on 1/21/10 at 7:10 pm to LSUdaughter
Better lock in soon, FHA rules are about to change.
Posted on 1/21/10 at 7:11 pm to tygerstripes
any idea how high? highest I saw was just over 5%.
and Golf, make sure you can float down if they drop without an additional fee.
and Golf, make sure you can float down if they drop without an additional fee.
Posted on 1/21/10 at 7:47 pm to LSUdaughter
Not saying that rates will change very soon, but the minimum down payment and the qualifying scores will change for FHA backed loans.
LINK
LINK
Posted on 1/21/10 at 7:58 pm to tygerstripes
thanks. that should help golf out if he is wondering.
most of the lenders were upfront about that.
just skimmed that, YEAH below 580, you probably shouldn't take out a loan on a bike, much less a home.
unless you had a situation of stolen identity that wasn't cleared up, crazy ex that ruined your credit, or something like that.
most of the lenders were upfront about that.
just skimmed that, YEAH below 580, you probably shouldn't take out a loan on a bike, much less a home.
unless you had a situation of stolen identity that wasn't cleared up, crazy ex that ruined your credit, or something like that.
This post was edited on 1/21/10 at 8:00 pm
Posted on 1/21/10 at 8:43 pm to LSUdaughter
quote:
unless you had a situation of stolen identity
I use this guys identity everytime.....
Posted on 1/21/10 at 9:21 pm to LSUdaughter
quote:
thanks. that should help golf out if he is wondering.
most of the lenders were upfront about that.
Yea all told me about that. I'll be fine. Didn't think about Whitney, who did you work with? Figured I'd just call the Gov't street branch since its closest to work and the home we're looking at.
Posted on 1/21/10 at 9:41 pm to Golfer
email me and I can tell you her name.
you have my email?
you have my email?
Posted on 1/21/10 at 9:44 pm to LSUdaughter
quote:
you have my email?
He has mine......
Posted on 1/21/10 at 9:46 pm to LSUDad
Dad, ygm
Posted on 1/21/10 at 9:47 pm to Golfer
you have a realtor? who do they reccommend if you do?
Posted on 1/21/10 at 9:49 pm to LSUdaughter
quote:
you have a realtor? who do they reccommend if you do?
Yea, she told me to go with whomever I pleased. I prefer it that way.
This post was edited on 1/21/10 at 9:50 pm
Posted on 1/21/10 at 9:50 pm to Golfer
hmmm. I would still ask her rec once you narrow it down. that would be really crappy to get to the closing table and have something come up.
Posted on 1/21/10 at 9:54 pm to LSUdaughter
quote:
I would still ask her rec once you narrow it down.
She was fine with all of them at Iberia when I talked to her. If I can get 4.75% though with no origination at Whitney...I'm going with that.
ETA: Although we're only talking about 20 bucks or so...
This post was edited on 1/21/10 at 9:55 pm
Posted on 1/21/10 at 10:01 pm to Golfer
20 bucks is it? emailing ya now
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