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Intrest Rates

FHA Advantages

Mortagage Insurance

30 year fixed mortgage , 0 Points 3.55% APR - 4.07% APR 3.68% RATE
 If the amount you need falls within those guidelines, here are the advantages to getting an FHA loan.
Advantage 1. You'll need a smaller down payment.
Advantage 2. You can qualify with below-average credit.
Advantage 3. You're allowed to carry more debt.
Advantage 4. The interest rate could be lower.
It used to be that you only had to carry this insurance for at least five years on all loans longer than 15 years, or until the balance on your mortgage was down to 78% of the original purchase price, whichever took longer.
Since mid-2013, new FHA borrowers who put down less than 10% have been required to pay these premiums for the life of the loan. This rule isn't changing.
If you keep your FHA financing for 30 years, you'll pay significantly more in mortgage insurance premiums than you would with a conventional loan and private mortgage insurance.
That's because on non-FHA loans, borrowers can usually drop private mortgage insurance once the loan balance is down to 80% of the purchase price and after as little as one year.
Conventional loans also allow you to count home price appreciation toward obtaining the needed equity. FHA mortgages do not.
House Plans, New Home Construction, Houses, Home building, Rambler, Two Story, Utah Homes. Revit Plans, AutoCAD Plans, Details, PDF Construction Set.