Today’s Lowest FHA Mortgage Rates – Chase, Lending Tree, Bank of America and Wachovia Home Loan Rates on June 23
Posted on | June 23, 2010 | Comments Off
Today’s lowest FHA mortgage rates are currently below 5% for the 30 year fixed mortgage. Many major mortgage lenders including Chase, Lending Tree, Bank of America and Wachovia continue to report that mortgage rates are under 5% for the 30 year fixed rate. They are also reporting that FHA mortgages are coming in very close to conventional mortgages.
It is very important to remember that an FHA mortgage comes with insurance obligations. It may not seem like a significant amount of money but this extra insurance each and every month could end up to an amount that would be more than a conventional mortgage rate.
There are many mortgage calculators available online that will help you to better understand what mortgage interest rate is best for you. It may be wise to take out a slightly higher interest rate conventional mortgage as you will be able to avoid the insurance costs and it could be a monthly payment that is less.
Take the time and effort to do your research before making any major financial decision. Even though today’s lowest FHA mortgage rates are very close to historic lows and does not mean that everyone will benefit as you will need a very good credit score in a strong financial history.
Author: Tiffany Mann
Tags: bank of america fha > chase fha > fha mortgage rates > lending tree fha > todays lowest fha mortgage rates > wachovia fha > wachovia mortgage rates