When you’re taking out a mortgage there are two numbers that reflect mortgage costs: the interest rate and the annual percentage rate, or APR.
Today’S Interest Rate Mortgage
First let’s start with the main difference between the FHA and conventional loan programs. FHA: This is a government-backed program that requires a 3.5% down payment. FHA loans are best for borrowers who have lower credit than it takes to qualify for a conventional loan. Still, those with higher credit might choose it for other reasons.
Fha Upfront Funding Fee Fha Vs Conventional Interest rates current mortgage Interest Rates – January 2019 – A table of today’s mortgage interest rates, plus tips on how to get the best rate and a breakdown of the seven things lenders evaluate when determining rates.