FHA Mortgage Rates

FHA Mortgage RatesKnow The Current FHA Mortgage Rates

While you might think that you have your whole housing cost structure figured out, when you opt for an FHA mortgage there are things you need to know about. FHA mortgage insurance is one of these things; as well, how the current FHA mortgage rates are going to impact the amount that your house winds up costing.

What You Need to Know About FHA Mortgages

  • FHA Rates: The current FHA Mortgage Rates offered are still in line with the rates offered on a conventional mortgage. This is one of the reasons that the FHA mortgage remains so popular. Borrowers can depend on the cost of their current FHA rate only being impacted by any additional add-ons.
  • Add Ons: One of the main factors that will be included with an FHA mortgage is the required mortgage insurance. You won’t have to make as high a down payment as typically required, and you will get competitive FHA Mortgage Rates, but you want to be sure that you factor the mortgage insurance into your monthly expenses. In many cases the monthly mortgage insurance amount is something that will be carried through for the life of the loan.
  • Low: Luckily for most borrowers, the FHA Rates which are currently posting are very affordable. People are scrambling to buy up all of the homes that they can because the FHA rates and the general broad mortgage rates are bound to rise again soon. They have been saying that for some time but the simple fact is that when it gets down this low, the brokerage houses aren’t making any money on the loans.

If you have been in the dark about the benefits of an FHA mortgage or FHA loan and you think that you may qualify that’s great news. Do yourself the favor of partnering with a group who can help. Paramount Equity® has a full lineup of services to help home buyers with questions.

The Paramount Pledge™ – Triple Protection

The Paramount Pledge. It is our promise to you that we’ll provide the best rates, won’t charge you an application fee to lock in a rate and will ensure we can close and lock in a rate at the terms we provide.

No Application Fee – Other lenders charge hundreds of dollars to start the loan process with you. Paramount Equity Mortgage® will never ask you to pay an application fee just to lock in your rate.
Better Rate Warranty – After you complete a loan with us, we will cover most of the cost to refinance or purchase within the next seven years, for any reason.
Set & Secure Closing Guarantee™* – Once we receive all required borrower information, your signed disclosure and lock your loan, we guarantee we can close your loan at the rate and terms we provided. If we can’t, we will pay you $500.
* The Set & Secure Closing Guarantee is not valid in the event that there is an unforeseen change such as, an appraisal coming in under value, undisclosed debt at the time the loan was pre-qualified, a change in income due to loss of job or change in employment, etc. This guarantee is also not valid in the event that you withdraw your application or request a change to the terms of your loan. A change in terms would consist of, but is not limited to, a change in loan amount, fixed vs. adjustable rate, number of years the loan is amortized, adding/removing a borrower, etc.