Has anyone recently secured a FHA loan? What rates did you obtain? Trying to determine whether to buy now and refinance later or wait. Market is still high but paying rent in a high COL city is becoming the equivalent of a mortgage.

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I agree buy now and refi later. I started looking years ago and everyone told me to wait and prices would come down. I waited a year, prices got worse so I jumped and bought, since then year and year values keep rising and I’m so glad I bought when I did. You can change your rate later.

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I am about to close a 525k home, 225 hhi here in S Florida, rate is 5.9999% and i am putting 5% down, pmi is like 70 per month.

If there is inventory shortage then you should be fine, i think we’ve reached peak rates for now unless pce comes in too hot

6% is really not bad, its just normal

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Why not do conventional?

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Isnt the rate much higher? I’d prefer to do FHA and put 15% down

I would buy now and refi later. If you wait until the rates drop, I imagine it will get competitive and home price will continue to climb…

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FHA loans tend to come with lower interest rates than conventional loans. For the most part, this is because FHA borrowers have historically been less likely to pay off their mortgages early than conventional borrowers. This makes the servicing of these loans more valuable. I can get you funded at a low interest rate for your property, reach out to me with details of your loan request.

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