I got my approval this morning from Michigan Mutual, it looks like I may be in ther 620-639 program unless I can get two points in the next week or so.  My LO is being vague about rate, keeps talking about 4%???  THis seems high for a 15yr FHA loan, he wont get into details yet keeps saying he will know more when we lock it in??

    My question is this, am I going to pay a higher rate for the sub par program?  He also mention putting down an additional $500 get under 4%?