Zillow Advice: FHA and VA Loans - Too high of an interest rate and APR?? http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ Zillow Advice | Zillow Real Estate If you are concerned about ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ If you are concerned about apr being so far from note rate this is typical on FHA loan as the APR is including minimum 11 years and possibly 30 years of mortgage insurance payments. Your spread is standard and the 4.25 is reasonable depending on the adjusted origination expense. Wed, 28 Aug 2013 05:00:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-08-28T05:00:00Z User fb89842279, are you ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ User fb89842279, are you using a 3.5% or 5% down payment? If so, your APR will be higher than the 5.3664 figure.&nbsp; &nbsp; Thu, 12 Sep 2013 19:23:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-09-12T19:23:00Z the spread on rate and APR ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ the spread on rate and APR is a lot greater than a loan without mortgage insurance and esp with FHA loans because the MI is much higher than it is on conforming loans. Thu, 12 Sep 2013 19:04:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-09-12T19:04:00Z If you are ever in doubt, ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ If you are ever in doubt, check out other lenders. When you are thinking about buying a car I am sure you check out more than one dealership to compare products and prices. You should consider doing the same with lenders. Don't be afraid to check out other lenders to see what they can do for you. Sometimes lenders can beat the rates of other lenders or have more suitable niche products that can better for your situation. In other words, to be afraid to shop around!<br/><br/>Well I hope this helps! If you have any further question or if you would like a loan, feel free to contact me. Also, if you found this comment helpful, <strong><u><em>[Self promotion removed by Zillow moderator, please see our <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>]</em></u></strong>!<br/><br/>Good Luck! Wed, 28 Aug 2013 18:50:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-08-28T18:50:00Z A new 30 year Fixed FHA loan ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ A new 30 year Fixed FHA loan at 4.25% with 3.5% down payment would have an <strong>APR of</strong> <strong>5.735%</strong> based on mortgage insurance only, then will go higher after Origination Fees, etc are added. &nbsp; &nbsp; &nbsp; &nbsp; Wed, 28 Aug 2013 14:26:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-08-28T14:26:00Z Justin is correct on this ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ Justin is correct on this one-the spread is just about right and not too fee heavy at all-the APR spread from the actual interest rate is generally about 1%-the interest rate is good as well (in my humble opinion). Good luck! Sounds like your lender is treating you right to me. Wed, 28 Aug 2013 14:12:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-08-28T14:12:00Z tip - on same day try asking ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ tip - on same day try asking the lenders you are considering to provide &nbsp;quotes for &nbsp;same loan amount / purchase price / &nbsp;and rate &nbsp;<br/><br/>by narrowing down variables - you can then compare the fees they both charge and &nbsp;make a better &nbsp;decision as yo whom to proceed with&nbsp; Wed, 28 Aug 2013 04:00:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-08-28T04:00:00Z That's good to know.&nbsp; ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ That's good to know.&nbsp; Lenders keep telling me to compare with APR and the interest rate.&nbsp; I don't know who to trust.&nbsp; This is all new to me.&nbsp; I wish there was an independent service that could compare the quotes I have.&nbsp; Thanks! Wed, 28 Aug 2013 03:41:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-08-28T03:41:00Z if you dont like the quote ... http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ if you dont like the quote ....move&nbsp; on to another lender and get another&nbsp; few quotes <br/><br/>compare the actual note rate and the actual closing costs and loan fee ....dont&nbsp; use APR to compare options Wed, 28 Aug 2013 03:15:00 GMT http://www.zillow.com/advice-thread/Too-high-of-an-interest-rate-and-APR/508920/ 2013-08-28T03:15:00Z