FHA Mortgage Question

[Harrison Sharp]

New investor in the DFW market, looking at buying my first house back within the next year or so (either a SFH with room mates or a duplex). I currently have about 50k saved up and have some questions regarding the available financing. My plan was to use a FHA loan and put 3.5% down as a down payment, my credit score is around 800 and I have no outstanding debt. 1. What would be a realistic interest % I could obtain on a loan like this? 3.9-4.1%, or is that too low? 2. What would be the best place to obtain a loan like this? I have an account still open with a local credit union I used growing up but would like the best possible rate and assume big banks like WF and Chase are a no go. Any other advice for a new investor would be appreciated, thanks in advance for your help!

[Bob Okenwa]

@Harrison Sharp

The going interest rate on FHA is around 4-4.25% right now. You can explore rates in your area based on your loan amount here with the CFPB site. FHA loans are available just about anywhere, but I'd avoid big banks. They are not well-received when it comes to processing homes loans in a timely and consumer-friendly manner.