Question
My bal is 95000, my score is 650, what is the best rate and APR for me on a 30yrs FHA loan? Pls i need advice on what i need to know so i don't get cheated again when dealing with the loan officer. Thanks
My bal is 95000, my score is 650, what is the best rate and APR for me on a 30yrs FHA loan? Pls i need advice on what i need to know so i don't get cheated again when dealing with the loan officer. Thanks
Answer
First you need to ask about 1. Points 2. Make sure it is a fixed rate (intrest) 3. NO BALLOON PAYMENTS sometimes they don't tell you that there is a huge payment somewhere usually at the end of the 30 year loan that you have to pay 4. If there will be an early payoff penalty. Say you want to pay your loan off in 18 years they can penalize you for that and make you pay the full intrest for the 30 year anyway and you DO NOT WANT THAT....... Not sure about the best intrest rate you can get that you will probably have to call around in your home town about unless someone lives near you and has recently closed on a fha loan and has the same credit score you have I don't think that they will know either...... I think that is it and this is anywhere..... I hope this helps you Good Luck!
First you need to ask about 1. Points 2. Make sure it is a fixed rate (intrest) 3. NO BALLOON PAYMENTS sometimes they don't tell you that there is a huge payment somewhere usually at the end of the 30 year loan that you have to pay 4. If there will be an early payoff penalty. Say you want to pay your loan off in 18 years they can penalize you for that and make you pay the full intrest for the 30 year anyway and you DO NOT WANT THAT....... Not sure about the best intrest rate you can get that you will probably have to call around in your home town about unless someone lives near you and has recently closed on a fha loan and has the same credit score you have I don't think that they will know either...... I think that is it and this is anywhere..... I hope this helps you Good Luck!
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