Quantcast

Home buyers should already know they need to establish the best possible credit rating. FHA loans provide great assistance to many first time home buyers by offering mortgage loans with lower down payments.

FHA Loan Rates

October 1, 2016
FHA Rates for October 1, 2016
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
The Path to Homeownership
FHA.com is a private company, is not a government agency, and does not make loans.

FHA Credit and Your FHA Loan

Take the Steps to Review Your Credit

FHA loans provide great assistance to many first time home buyers by offering mortgage loans with lower down payments. While this is a benefit for many people, recent changes in policy may have put the loans just out of reach for some would-be homeowners with questionable credit history.

Home buyers looking to take advantage of great FHA loan benefits should already know they need to establish the best possible credit rating. Applicants with a better credit rating increase their options for mortgage or refinance loans. In order to qualify for the low 3.5 percent FHA loan down payment, applicants will need a FICO score of at least 580. Those that don't meet that criteria will have to put a down payment of 10 percent on the mortgage they want.

While FHA loans are known as a great service for people looking for help buying a house, applicants can make the process even easier if they take steps toward ensuring their credit history is in tip-top shape. The agency advises prospective home buyers to approach FHA loans with their best possible credit history to eliminate any potential risk of not qualifying.

When the Federal Housing Administration announced rule changes to help strengthen finances and protect against risk, one of the biggest changes was requiring a minimum FICO score of 580 to qualify for the attractive 3.5 percent down payment on mortgage loans.

FHA Loan Articles

Read About Mortgage News, FHA Updates, and Guidelines
FHA Amends Rehab Loan Policies

In August 2016, the FHA issued a press statement announcing amended policies for the FHA 203(k) Rehabilitation Mortgage Insurance Program. The policies were specifically changed regarding the 203(k) Consultant Draw Inspection Fee.

Calculating Your Monthly FHA Loan Mortgage Payment

How much will your monthly mortgage payment be? That’s an important question to ask early on when you’re planning your home loan. Is it really a simple calculation of how much the loan is, divided by how many months the mortgage loan payments are required?

Questions and Answers About FHA Mortgages

Buying a home is an important financial decision and there are many questions that FHA loan applicants have in the planning stages of the loan. Fortunately, there are simple answers to many common questions about buying a home with an FHA loan.

Participating Lender Standards for FHA Loans

There are many common questions about FHA home loans. One area that confuses some borrowers or potential borrowers has to do with the difference between FHA single family loan rules and minimum standards, and individual lender standards.

The Facts About FHA Requirements on Caps and Minimums

Some borrowers want to know if FHA home loans have an income limit. The implication is often that FHA loans are intended for a certain type of applicant and that some borrowers might be disqualified for an FHA mortgage because they earn too much money.