Compare Mortgage Rates

FHA Loans - Mortgage Rates & Information

An FHA mortgage offers flexible qualifying guidelines, low down payment, and low FHA loan rates for buying a home or refinancing.

FHA Loan Benefits:
  • Refinance FHA loans offer cash out up to 85% loan to value
  • The minimum down payment for an FHA mortgage is 3.5%
  • Flexible FHA loan underwriting allows for lower credit scores
  • A higher debt ratio for FHA mortgage qualifying is allowed
  • FHA loan rates are comparable to conventional loan rates
  • Non-occupant co-borrower may be added to help qualify
  • Certain closing costs have limitations for FHA loans
  • FHA loans allow a previous bankruptcy after 2 years
  • Collection accounts may not have to paid for an FHA loan
  • FHA Loans may not have a requirement for cash reserves

FHA loan rates are available in fixed 15 year or 30 year terms. FHA loans have a mortgage insurance premium of 1.75%, which can be financed. There is also a monthly insurance premium that is added onto the payment. Condominiums do not require the up-front premium, only the monthly amount.