VA Home Loan Interest Rates

[Edwin Figueroa Torres]

I am in the middle of purchasing my first home using a VA Home Loan. The terms are below.

Loan amount: $277,000

Loan type: 30 YR VA Home Loan

Currently have $1,500 in debt.

Location: Leominster, MA

Property Type: Two-family

Year Built: 1900

Credit Score: 722

Savings: $20,000

Insurance: $1,500

Make $66,000 annually

With that being said, I feel like I am being screwed. I was verbally told 4.8% when we were going through the initial paperwork, but when the paperwork was written up, the rate that was on the papers was 5.5%. Is there anyone here that can confirm that this is in the ballpark of the current market rates, with the above numbers?