November 2015 USDA interest rates are pretty much unchanged from last month. New USDA home buyers can expect the same mortgage rate pattern throughout November. New USDA buyers can expect minor .125% adjustments in rates day to day as normal. According to our survey, the most mortgage companies are quoting the 30-year fixed mortgage rate in the range of 3.75% – 3.875% as of today. Although, current mortgage rates are slightly higher compared to those in the beginning of last week, they are still hovering near 5 month lows, leaving borrowing costs at very nice levels. Considering we haven’t seen mortgage rates this low in a while, it may be a good time lock in and secure your rate today.
Borrowers will want to remember the November USDA interest rates indicated are based on a great credit (over 720 credit scores) Applicants that have lower credit scores will incur interest rates from .125% -.5% higher. Higher credit score means lower risk for lenders, thus lower rates for home buyers. In addition the rate indicated assumes 0 points. Borrowers always have the options to “buy down” their interest rate by paying points at closing if they like. Whether this makes sense will be determined by many variables, we can help you understand the numbers and pro’s and con’s.
Florida and Georgia home owners that currently have a USDA 502 loan can learn about the USDA streamline and Pilot refinance programs. These refi programs make refinancing easy for current home owners that have a USDA 502 Guaranteed mortgage. Home owners can learn more about the USDA Pilot refinance here. The equity amount in your home (or lack of) is not important with the USDA refinance program. No new appraisal or home inspection is required, the program is very streamlined for a fast closing.
USDA Mortgage Source specializes in USDA Rural Housing loan in Fla & GA. If you have questions, just submit the short Info Request Form on the right side of this page for quick service. Mobile phone users can find the Info Request Form here. You can also call us 7 days a week at ph: 800-743-7556