08-24-2013 12:29 PM
Can someone recommend the best place to check the rate I am being offered to make sure that it's good? For USDA/FHA loans? MyFico has something built in but maybe there is something better elsewhere.
08-24-2013 02:16 PM
Review what others have been offered recently and provide the specifics of your situation & what you are being offered. USDA & FHA rates should be pretty similar to each other, usually within .125%.
08-24-2013 02:21 PM - edited 08-24-2013 02:22 PM
We are in the process of buying (we are waiting for USDA approval) 30 year fixed no money down 4.25 it was 4.5 but since we agreed to automatic payment withdraw for the first year they took off .25 our mid score is 685
08-25-2013 12:58 PM
4.875 as of last week, 100% financing USDA, about a 250,000 loan. Credit score 675. Was trying to get it above 680, but it doesn't look like it is going to happen by application time, I paid down my utilization from 50% to 25% and got little love from FICO for it.
It was 4.55 when I applied for pre-approval a month and a half ago.
08-25-2013 02:06 PM
When we pre-approved in April it was 3.5% - didn't find a house.
Found a house in JUly and had to go through the process again, locked the rate in July 27th at 4.625%. It looks like the only way those rates are going is up!
08-26-2013 12:20 PM - edited 08-26-2013 12:27 PM
I was quoted 4.25% FHA last Wednesday and the LO said the rates just went up which is true if you check bankrate average (went up from 4.35 to 4.5 and over).
These responses are not provided or commissioned by FICO. Responses have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.