Posted on May 28, 2011.
Sheron Casali says...
Rates are definitely in the mid-high 6s for USDA rural housing. If you qualify at that rate, take it!
Rural housing deals are AWESOME! You have NO monthly MI with a USDA rural housing loan.
An FHA mortgage WILL have MI. That is like adding .5% So, an FHA at 6.5% will be like paying 7.0%.
Best of luck!
PS. If a mortgage lender quotes a rate, he MUST indicate APR. Some mortgage lenders don't know their RESPA rules.
Posted on May 29, 2011
I Am Trying to lock in my interest rate but right now I am Being Told thats the spleen IS 6.5% Which Is a bit high for me. Is There Anywhere That I Can look for myself? I Can oly find Interest Rates for FHA not USDA Guaranteed Loans. I have 3 weeks Before closing please help!