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The contract interest rate for a 5/1 adjustable-rate mortgage loan rose from 3.40% to 3.42%. Rates on a 30-year FHA-backed.
Kate Rockwood is a freelance business and finance writer, living in Chicago. Her work has appeared in Inc., Fast Company, Real Simple, and O: The Oprah magazine. The fha single-family loan limit for most counties in Wisconsin is $314,827. The standard limit is higher in some of the state’s larger.
The ability to qualify for FHA mortgage is much easier than a conventional loan. A significantly higher credit score is needed compared to an FHA loan or other types of loans; This is one reason why so many people choose to work with a lender that can offer both an FHA loan and a conventional mortgage.
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The contract interest rate for a 5/1 adjustable-rate mortgage loan dipped from 3.42% to 3.40%. Rates on a 30-year FHA-backed fixed-rate loan remained unchanged at 3.80%.
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