Today’s Lowest FHA Mortgage Rates – 15 Year Fixed Refinance Loan Rates Under 4% in September 2010
Posted on | September 17, 2010 | No Comments
Today’s Lowest FHA mortgage rates are a very attractive levels as many Americans are finding that 15 year fixed loan rates are under 4%. When looking to refinance this is quite an attractive level as many Americans will greatly benefit by refinancing to a mortgage rate well under 5%. It is very important to recognize that not all homeowners will be able to refinance at these historically low FHA mortgage rates.
It generally takes a credit score above 740 and a debt to income ratio that is below 40% to have many opportunities to refinance to an extremely low rate in the current interest rate environment. This does not mean that homeowners will not benefit if they cannot qualify for the lowest rates possible. The general rule of thumb is that homeowners should save at least one full percentage point to fully benefit from the refinance process.
Taking the time and effort to complete homework and due diligence could be greatly beneficial to homeowners looking to save money. Many Americans have found that they can save hundreds of dollars a month on a mortgage payment but it is important to recognize that not all homeowners will be able to lock into a rate this low. Even if you cannot get the lowest mortgage interest rates it does not mean that refinancing will not benefit your financial situation.
Author: Heather Best
Tags: 15 year fixed refinance rates > fha mortgage refinance > loan rates > lowest mortgage rates > mortgage loan > refinance loan rates > Refinance Rates > today's lowest fha rates
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