4.25% 30 Year Fixed Rate
Loan Amount
Loan Type

Program Rate APR
30-Yr fixed 4.750 % 0.7 to 1
15-Yr fixed 3.750 % 0.7 to 1
5/1 ARM 3.125 % 0.7 to 1
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FHA Mortgage – New Low of 4.15%

An FHA loan, or Federal Housing Administration Loan, is a loan that is insured by the federal government. These loans were established in the 1930s, and they are considered to be easier to obtain and have better rates than other types of loans.

Qualifications of FHA Loans

Just about anyone can qualify for an FHA loan, as there are no limits on income. However, there is a maximum amount that a person can borrow, and an individual normally needs to have had a steady source of income for at least two years. A person’s credit score could also have an impact on their ability to obtain an FHA loan. If there are delinquent accounts and late payments on a credit report, then there might be some restrictions on the loan, but credit does not have to be perfect. In addition, the applicant should not have filed for bankruptcy in the last two years, and they should not have lost a home because of foreclosure. Borrowers need to have reasonable debt to income ratios to get an FHA loan, and they need to make a down payment of at least 3.5 percent.

FHA Loan Rates

The FHA mortgage rates remain low, so now is an excellent time for an individual to buy a home. In fact, people have more control than ever before on the rate that they receive, as lenders are very competitive. There are hundreds of companies online that offer excellent FHA mortgage rates. Borrowers can now get a 30 year fixed mortgage for as low as 4.15 percent, and individuals who obtain a 30 year fixed mortgage will have the same rate for all 30 years of the loan.

FHA Streamline Refinancing

FHA streamline refinancing allows a homeowner to decrease the interest rate on their current loan. This type of refinancing is quick and easy, as it does not require an appraisal or tons of paperwork to complete the process. In order for a person to qualify for streamline refinancing, their current home loan must be in good standing and the refinance needs to decrease the monthly interest payments. This can lower the monthly payment, but an individual cannot receive cash back.