Today’s Lowest FHA Mortgage Rates – Interest Rates for Bad Credit from Lending Tree, Bank of America, Chase and Wachovia
Posted on | June 22, 2010 | Comments Off
Today’s lowest FHA mortgage rates are very close to historic close as the conventional 30 year fixed mortgages around 4.75%. If you are looking for interest rates even though you have bad credit it is important to note that you will not get these low interest-rate offers. Banks such as Lending Tree, Bank of America, Chase and Wachovia have offers for almost all types of borrowers.
If you have noticed your credit score drop well below 680 you will likely find that it is very difficult to lock into a mortgage interest rate near the low levels you are seeing advertised. To have an opportunity to lock in to these low rates you will need a credit score above 740.
With this being the case it may be a wise decision to check your credit history and get a legitimate credit score. It is important to note that there is a free annual credit report but this does not include a credit score. You will likely have to pay between $15 and $30 to get a credit score.
When seeking today’s lowest FHA mortgage rates it may be beneficial to know your exact credit scores or you can determine what interest rate you will likely qualify for. Ultimately, many borrowers will find that they can receive very attractive rate offers in the current economic environment.
Author: Alan Lake
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