Today’s Lowest FHA Mortgage Rates – Interest Rates at Bank of America, Quicken Loans, Chase and Wachovia
Posted on | June 21, 2010 | Comments Off
Today’s lowest FHA mortgage rates have been reported very close to conventional interest rates as the 30 year fixed is being quoted around 4.75% for well-qualified borrowers. Interest rates at some of the major lenders including Bank of America, Quicken loans, Chase and Wachovia have been very attractive.
It is important to note that these are some of the major mortgage lenders in the country but they are not the only option. By doing your research online and you will be able to find many mortgage lenders in your area that can likely help you lock into a low FHA mortgage interest rate.
Before accepting an FHA mortgage is very important to understand that there are insurance obligations with this mortgage type. Sometimes it is worth it to take out a conventional mortgage with a slightly higher interest rate because you will be able to avoid the monthly insurance costs that come with an FHA mortgage.
There are many free resources available online to help you better understand if an FHA mortgage is right for you. Make sure to take the time and effort to complete your due diligence before making any final decision when it comes to a mortgage.
Author: Heather Best
Tags: bank of america fha > chase fha > fha interest rates > lowest fha mortgage rates > mortgage interest rates > quicken loans fha > wachovia fha