Today’s Lowest FHA Mortgage Interest Rates – Bank of America, Chase, Citibank, and Wachovia Loan Rates
Posted on | May 26, 2010 | Comments Off
Today’s lowest FHA mortgage interest rates are very close to all-time lows as the 30 year fixed mortgage rate is under 4.6%. Major mortgage lenders including rank of America, Chase, Citibank and Wachovia are reporting that FHA mortgage rates are coming in very close to conventional mortgage rates at the present time.
Before accepting than FHA mortgage is correct for you it is very important to understand that FHA mortgages come with insurance obligations. It is sometimes smart to consider a conventional mortgage with a slightly higher interest rate due to the fact that you can avoid insurance costs.
There are many mortgage calculators available online that can help you better understand how much money you will save by choosing between an FHA mortgage or conventional mortgage. By contacting your mortgage lender you will better understand what type of insurance costs you will incur by taking out an FHA mortgage today.
With many of the major banks reporting that low mortgage interest rates at the present time it may be a wise decision to consider refinancing or locking in to your first low mortgage rate today. By doing this you could save a significant amount of money in the very near future.
Author: Tiffany Mann
Tags: bank of america fha > chase fha > citibank fha > fha interest rates > fha mortgage rates > today's lowest fha rates > todays fha rates > wachovia fha