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Answers (3)
- Lisa Thomas, "Lisa Thomas ABR"
- Contributions:33
The rate is based mostly on your credit score but by all means try to negotiate the rate and also try different lenders. A little competition may encourage one or all the lenders to give you a good or better rate.
- Darrell Self, "Darrell Self"
- Contributions:349
The best thing to do is contact local lenders in your area. If you know your credit score that will help them provide more accurate quotes.
- Thomas Hall, "Tennessee Loans"
- Contributions:381
You can contact multiple lenders and find out which lender has the combination of best fees/rate for your situation.
FYI If this is for a purchase and if you are in a situation where you could benefit from down payment or closing cost assistance you might want to consider going THDA. (Tennessee Housing Development agency). It is a basically an FHA loan and you will also get down payment assistance from TN that doesn't need to be paid back. There are restrictions to qualify for the assistance but a great program for many TN home buyers.
FYI If this is for a purchase and if you are in a situation where you could benefit from down payment or closing cost assistance you might want to consider going THDA. (Tennessee Housing Development agency). It is a basically an FHA loan and you will also get down payment assistance from TN that doesn't need to be paid back. There are restrictions to qualify for the assistance but a great program for many TN home buyers.
if I get approved for an FHA loan can negotiate the rates?
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