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Established Member
Posts: 36
Registered: ‎12-24-2012
0

how long can i expect these low interest rates

My 3 yrs BK discharge date and foreclosure date will be in july and im looking at purchasing a home. My mid fico is at 660 right now and my question is how long can i expect these low interest rates. Im hoping to get a rate no higher than 4% and really hoping i can get a rate under 4%. Just thought i would ask here if i will still be able to get a rate like this in july or august. I appreciate any info on this

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: how long can i expect these low interest rates

Rates can change at any point in time.

The type of loan you apply for, your credit at time of applying and other trquirements also factor into your rate.

Just my opinion I do not see any major change to rates in next 6 months. Even if they start coming up it should be gradually.
Good Luck
May all your dreams and wishes become a reality!
Established Member
Posts: 36
Registered: ‎12-24-2012
0

Re: how long can i expect these low interest rates

ok thanks when i apply in july my crediti will be between 680 and 700 and im going with a usda guaranteed loan.

Member
Posts: 9
Registered: ‎01-17-2013
0

Re: how long can i expect these low interest rates

HI! I am going USDA Guaranteed. My Fico score is 771.. my loan officer said my rate would be between 3.75-4%. Last time i applied, about 8 months ago, my middle score was 740 and the rate was 3.75%. I imagine they may be steadily going up or i am just getting a bad rate. eh! Good luck!

Member
Posts: 9
Registered: ‎01-17-2013
0

Re: how long can i expect these low interest rates

oh yeah, i am in upstate SC. Where you live could be a factor too..? :smileyhappy:

Established Member
Posts: 36
Registered: ‎12-24-2012
0

Re: how long can i expect these low interest rates

Someone also told me that as long as the credit score was above the 640 it didnt matter  if you were at 640 or 740 everyone would get close to the same rate. I think fha is also like that. Im not sure if thats 100% true but id like to know if it is. I would be very happy with a 3.75 rate

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