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Looking for an FHA fixed rate lower than 4.85

Can you help? by Beverly Rabon from Lynch, Kentucky. Jan 4th 2010 Reply

Sunny Miceli (
#2 ranked lender in Mississippi - 5 contributions

Make sure you compare the cost for the 4.85% as the answer is "of course you can get a rate lower than 4.85%" but does it make sense? It has everything to do with the "cost" to obtain the rate. Lower rate does not equal the best financial decision unless you are comparing the fees. Most borrowers will never pay a mortgage for 30 years, consider the time you will be in the property and the amount of money the lender is charging for the loan/rate.

Jan 8th 2010
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