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Mortgage interest rate

Established Member

Mortgage interest rate

I was pre approved for a 130,000 mortgage at a 6.75 interest rate through FHA. I am on my Credit Unions website and their highest interest rate is 6.60. Would it really make that much of a difference on my monthly payments to go with the credit union? FHA is the only place I have had run my credit so far. I dont want to have everybody and their mother running my credit and I am at a 556 when they are done!
 
Equifax- 645
TU- 657
Experian-675 
Message 1 of 4
3 REPLIES
Moderator Emeritus

Re: Mortgage interest rate

Not on a 130k mortgage. And all mort Inqs within a 14 day period count as one against your score.. so it is ok to shop around.
Message 2 of 4
Regular Contributor

Re: Mortgage interest rate

With your score that is a great rate going with FHA and thats better then going with a subprime loan. Keep in mind that you will be paying a min of 2 point up front.
Message 3 of 4
Highlighted
Established Contributor

Re: Mortgage interest rate

Make sure the term at your credit union is the same most only do 20 year loans...IME
9/18/08 TU=707 EQ=706 EX=702
Message 4 of 4