February 2015 FHA mortgage interest rates are starting off pretty low, in fact we are not too far off the all times lows we experienced a few years back. As of February 2015, current FHA 30 year fixed rates are starting off the year much lower versus a year ago. FHA 30 year interest rates are currently in the low to mid 3 % area with NO discount points by most Florida brokers and mortgage companies as we start February.
FHA mortgage rates are looking good for new home buyers in February 2015. In addition, the new lower FHA mortgage started last week! FHA buyers have many good variables on their side as we start 2015. There is also great opportunity for current FHA mortgage holders to refinance into a lower rate and also take advantage of the new reduced monthly mortgage insurance costs – says Justin Roberts – FHA loan advisor.
Also remember if you are an existing homeowner that already has a FHA mortgage, you still have options to refinance your loan into a lower rate and possibly save a pile of cash each month. The FHA Streamline refinance program allows Florida & Georgia homeowners that currently have an FHA mortgage to refinance into a lower interest rates, the best part is you can do so regardless of how “upside down” or “underwater” your home value is. You don’t need any equity in your home or a new appraisal. Not only are the interest rates super low, but homeowners can also take advantage of the new lower FHA MIP costs. Read about the updated FHA MIP costs here. Additionally, FHA streamlined paperwork makes the refinance process simple, no huge piles of paperwork needed.
As for FHA mortgage closing times for February 2015 – FHA loans are closing in as little as 2 weeks. However, home buyers want to be aware these FHA closing turn times may be increasing across the board with most lenders in the coming weeks/month as FHA refinance greatly increase due to the lower mortgage insurance.
FHA Mortgage Source is Florida’s FHA loan leader. We are available to serve you 7 days week. If you have questions about a new FHA loan pre approval, rates or the streamline refinance program – please contact us at ph: 800-743-7556 or just visit www.FhaMortgageSource.com
FHA Interest Rates – February 2015