The check digits enable the sending bank (or its customer) to perform a sanity check of the routing destination and account number from a single string of data at the time of data entry.
Generally, interest rates on FHA-backed mortgages are competitive with conventional mortgages. A quick scan of interest rates for 2012 reveals that FHA mortgages feature rates of about 3.33 percent. The FHA states that the average interest rate for a 30-year fixed loan on a single-family home is about 4.06 percent.
Summary: This article explains the average or typical amount paid for FHA closing costs in 2014, which can range from 2% to 5% of the purchase price. This guide is based on industry-wide trends and surveys.The numbers presented below are merely averages.o the easiest way to explain it is in terms of a percentage. The 2% - 5% Rule of Thumb. On average, FHA buyer closing costs add up to somewhere between 2% and 5% of the overall mortgage amount. So on a mortgage loan of $250,000, the closing costs could easily exceed $10,000.