When it comes to FHA loans with middle credi scores of 640, Im seeing fixed FHA interest rates in the high 3's with no points.
The vast majority of buyers are being taken advantage of and are being offered interest rates ranging from 4.5% to 5.625% The worst part is - these buyers are saying YES .
Even with a 580 credit scores, your interest rate should be in the 4's. My advice to buyers is -Dont let these lenders take advantage of you. Find a better offer.
Are you seeing 30-year fixed in the 3's or just 10/15 year fixed (not ARMs)? The best I've found so far is 4 even on a 30-year fixed, so if there's 3's out there I'm all ears.