Compare Mortgage Interest Rates Today – FHA, VA and Conventional Home Loan Rates Remain Low in April 2010
Posted on | April 26, 2010 | Comments Off
With the first time home buyer tax credit expiring at the end of this week many Americans will be looking to compare mortgage interest rates today. FHA, VA and conventional mortgage interest rates are all very low in April of 2010. The conventional 30 year fixed mortgage rate is currently below 5% which is very low when looking at a chart of historical home loan rates.
Before making a final decision on a mortgage it is very wise to do your research. You may find that you can qualify for a lower interest rate if you use an FHA or VA mortgage. It is also important to note that FHA mortgages come with insurance obligations that can sometimes make the monthly payments slightly higher.
When contacting your mortgage lender it is important to sit down and grind the numbers to the best of your ability. You may find that it is better to take a slightly higher conventional mortgage because you will be able to avoid insurance costs and your monthly payments will be lower. You will need to sit down with a calculator and paper and determine just what is right for you.
Author: Jeremy North