Today’s Lowest FHA Mortgage Rates – First Time Home Buyer Home Mortgage Loan Rates Around 5%
Posted on | April 29, 2010 | Comments Off
Today’s lowest FHA mortgage rates are very close to 5% even for first time home buyers. With the first time home buyer tax credit coming to a close on Friday many first time buyers are doing research to get under contract before this date. They are also doing research on low mortgage interest rates.
At the present time many mortgage lenders continue to report that FHA mortgage rates and conventional mortgage rates are coming in very close. With a very good credit score, above 740, and a debt to income ratio lower than 40% many first time home buyers have the opportunity to lock in to low rates in April 2010.
It is very important to note that first time buyers must be under contract by April 30th, 2010 to receive the first time home buyer tax credit of $8000. If you are not under contract by this time then you will miss out on this great opportunity to get some extra money. There are many websites that can help you better understand your options when it comes to the first time home buyer tax credit.
Author: Mike Garner