What are current 203K Rates?

[Jenny L.]

Can someone give me a ballpark of an expected interest rate on a 203K loan (full, not limited) based on high 700s credit score for home purchase, not updating a current home? (For example's sake, 500K purchase price, 100K renovation rolled in, 600K total, 30 year, fixed.) Great info out there and on BP on the loans themselves, their many requirements, etc. but I need a benchmark for actual interest rate.

BREXIT: Also, fed insiders here are predicting conventional rates with drop even lower now -- would this likely include FHA loans?

[Jorge Magana]

Hi Jenny, I just closed an FHA loan with a 3.375% but we initially looked into a 203k loan and we could have locked the rate for 45 days at 3.875%. Might be different in Jersey but two give you an example.