Answers (2)
Yes, FHA has 15 year fixed rates loans. Note that all FAH loans come with an Upfront Mortgage Insurance Premium of 1.75% of the loan amount. All 30 year FHA loans also carry a monthly mortgage insurance premium. However, on a 15 year FHA loan, if you put at least 10% down, then there is no monthly insurance premiums.
The rate and fees from any specific lender will depend on the market for that day. So, you should put a quote request here on Zillow and specifically request an FHA loan. This will help you determine the available rates and fees that various lenders charge.
The rate and fees from any specific lender will depend on the market for that day. So, you should put a quote request here on Zillow and specifically request an FHA loan. This will help you determine the available rates and fees that various lenders charge.
- Charlie Sparks, "Charlie Sparks"
- Contributions:73
Yes, FHA has a 15 year but is only fixed - not available as an ARM. (I doubt that is a problem for you!)
Closing costs are the same as a 30 year. Cost would depend on the rate you would accept, lender's fees, etc. My co. lends in CA and I'd be glad to provide you with a GFE. Contact me via my profile page if I can help. Thanks! Charlie
Closing costs are the same as a 30 year. Cost would depend on the rate you would accept, lender's fees, etc. My co. lends in CA and I'd be glad to provide you with a GFE. Contact me via my profile page if I can help. Thanks! Charlie
Does FHA have a 15 year loan? What should I expect as an interest rate & approx. closing costs?
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