On July 30, 2008, President Bush signed the Housing and Economic Recovery Act of 2008 which prohibits seller-funded down payment assistance. Historical program information is only provided for reference on this website. These grants are no longer available.

FHA Loan Rates

October 27, 2016
FHA Rates for October 27, 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.




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.

American Family Funds

Loan Assistance Program Canceled in 2008

Elimination of Non Profit Down Payment Assistance: On July 30, 2008, President Bush signed the Housing and Economic Recovery Act of 2008 which prohibits seller-funded DPA (Down Payment Assistance) for loans backed by the Federal Housing Administration. Prior to this bill, the seller could contribute up to 6% to the buyer to cover either a down payment or closing costs on an FHA loan. The changes took effect on Oct. 1, 2008. We provide this information for reference only. These grants are no longer available.

American Family Funds (AFF) administers The Dove Foundation, a non-profit charity offering down payment and/or closing cost assistance to qualified American home buyers. The program features:

  • A simple application completed by your loan officer.
  • No credit check.
  • No income requirements.
  • No limit on the amount of down payment assistance and/or closing costs.

Once you are pre-qualified for the FHA loan and find a property you want to buy, notify your loan officer, who will apply for the AFF down payment assistance on your behalf. Make an offer on the home that includes use of the AFF program.

  • The seller must accept the terms of your offer.
  • AFF provides the down payment money at the time of settlement.
  • The money is applied to your down payment and/or closing costs.
  • Typical down payments range between 3% and 6% of the contract price of a house, but individual terms may vary.

Ask your loan officer for details on American Family Funds, down payment assistance programs, or how to make an offer contingent on the use of the AFF program if you aren't sure how to proceed. AFF is only one of a wide variety of down payment assistance plans, be sure to explore all your options and find the program that meets your needs.

Down payment assistance programs generally require the seller to pay a fee to participate. This fee is considered a payment for services rendered and not a tax-deductible charitable contribution.

Since this program is no longer available, we recommend that you get pre-approved for a low down payment FHA home loan.

Discontinued Down Payment Grant Programs:


FHA Loan Articles

Mortgage News, FHA Credit Requirements, and Guidelines
FHA Loan Rules for Overtime and Bonus Payments

Can an FHA loan applicant use current overtime income or bonus payments to help qualify for a mortgage? Do these payments count towards overall monthly or annual income? This can be a tricky question to answer because not all overtime or bonus payments are alike. 

Questions and Answers About Interest Rate Rules

The interest rate on your FHA mortgage is one of the most important factors when considering the long-term cost of your home loan. Do you know the facts about FHA mortgages and the interest rates on them? 

Learning About FHA Loan Standards

One common misunderstanding about FHA loans and FHA refinance loans has to do with the difference between FHA loan minimum standards and the standards of a specific financial institution.  The FHA loan rulebook is often not the final word on certain issues.

Credit Check Rules for Cosigners and Co-borrowers

Not everyone who signs on the dotted line for a home loan may intend to occupy the property as their primary residence. Some may be non-occupying co-borrowers who are still financially obligated on the loan but don’t want to use the property as their main residence.

Gaps in Employment and Temporary Reductions of Income

The updated FHA home loan rulebook instructs your lender on how to process FHA loan applications and how the lender should treat specific circumstances that can affect a borrower’s chances for FHA loan approval.