Compare Mortgage Interest Rates Today – Low Rates on VA, FHA and Conventional Mortgages for First Time Home Buyers
Posted on | April 30, 2010 | Comments Off
With the first time home buyer tax credit expiring today it comes as no surprise to see many future homeowners searching to compare mortgage interest rates today. There are currently low rates on VA, FHA and conventional mortgages for first time home buyers. It is very important to do your research on these loan types before making any final decision.
For much of 2010 we have seen the 30 year conventional mortgage rate around 5%. If you have a credit score over 740 and a debt to income ratio below 40% you will likely be able to borrow a significant amount of money at low interest rates. If you do not have these requirements then you are going to see that your interest rate offers are much higher.
As always, when making a big financial decision, it is best to step back and look at your financial situation. Before making a home purchase it is very important to make sure you can offer the mortgage payments each and every month. You do not want to go through the process of foreclosure in the future.
Author: Alan Lake