Profile picture for mrs ryca

Quoted 4% for USDA with a fico of 738? Sound all right...

  • March 13 2012 - Orlando
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Answers (2)

Profile picture for user276118
Sounds pretty close to me.  I signed a USDA a few weeks back for 3.75
  • March 22 2012
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Profile picture for AlmaKee
Using the interest rate alone is not a valid way to compare mortgage offers.  The "lender related" fees (or rebate/credit back to you) can either increase your rate or decrease your rate and rates change daily so you must shop on the same day and with the same lender related fees to accurately evaluate competing mortgage offers.  Also make sure to include credit unions in your search as they often have the lowest lender related fees (ie credit report, underwriting, points, etc.).  You have to itemize out the costs the lender actually controls because some lenders may also underestimate costs that are "fixed" and will remain the same regardless of which lender you ultimately chose to work with.

If you're a first time homebuyer, you can also get up to $7,500 from the Florida Bond Program but you MUST work with an "approved" lender on the list.  Here's a link to see if you qualify:

http://apps.floridahousing.org/StandAlone/FTHBWizard/FTHBWizardForm2.aspx

All the best,
Alma Kee
  • March 14 2012
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