FHA 30 Year Fixed Rate drops below 3%

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Did the FHA 30 Year Fixed Rate
really drop below 3%?

With the recent drop in mortgage rates, American United Mortgage Corporation is now offering qualified FHA home buyers a 2.875% 30 Year Fixed FHA rate with -0- points!!  APR 3.789%

This is great news, especially for first-time home buyers.

The FHA mortgage is a fixed rate loan insured by the government that provides homebuyers with the opportunity to purchase a one-to-four unit home with as little as 3.5% down. FHA loans are for primary home purchases only, not for investors.

In addition, the FHA allows homebuyers (and homeowners) to finance home renovation, modernization, and/or repairs under the 203(k) version of the loan. FHA 203(k) rates are slightly higher than standard FHA rates.

To find out if the FHA loan is right for you, and to review your qualifications, contact your local lending representative today: Joseph Farella, at 908.322.5423, or via email at joe@americanunited.com.

NOTE: Mortgage rates are market driven and subject to change at any time without warning. 2.875% Rate / APR 3.789% as of 2/12/2020 is based on credit scores of 680+ for a $275,000 to $510,000 single-family FHA 30 Year Fixed Purchase loan .  Other rate options available with credit scores to 620.  FHA loans are available for qualified applications up to $765.600.  Call today for additional details.  American United Mortgage Corporation – Licensed Mortgage Banker, New Jersey Department of Banking & Insurance – NMLS # 75965

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