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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The FHA, or Federal Housing Administration, was established in the 1930s to provide citizens an easier way to obtain a loan. The FHA works closely with banks and lenders to insure the mortgage. FHA mortgages have become the most popular insurer of mortgages in the world. Because the FHA insures the loans, they are not a risk to lenders.

Consumers today actually have power to influence interest rates. Lenders are very competitive and are wiling to negotiate. They want to obtain the business, so they are eager to offer the best deals.

When applying for FHA loans, a lender will ask individuals their personal information, such as address, employment history, and income tax forms. They will then look at a person’s credit history. If everything looks acceptable, they will offer to insure the loan. People with less than stellar credit can qualify for FHA loans.

FHA mortgage rates are sometimes lower than conventional loans. The latest mortgage rates are at an all-time low, so now is an excellent time to obtain a mortgage. Some of the things that can determine the FHA mortgage rates are:

• Amount of the loan
• Life of the loan
• Whether it is adjustable or fixed
• Amount of down payment
• Closing costs
• Credit score
• Credit history

Most people will qualify for a FHA loan; however, there are limits as to how much money the FHA will lend a potential homeowner. The size of the down payment has a large impact on the interest rate.

Individuals need to research to find a lender who will offer the best rates. Consumers need to call the lenders to see what the latest mortgage rates are. When a person contacts a lender, they need to be prepared. The homeowner should tell them what their down payment is going to be, and then the lender can help the individual know exactly what their rate will be.

The FHA normally requires people to make a down payment of at least 3.5 percent. If a potential homeowner is not prepared to make a down payment, there are other options available.

FHA mortgages have helped millions of people be able to buy a home, no matter how bad their credit is. With the latest mortgage rates, a person can be able to afford the home of their dreams.