Quantcast

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 Mortgage Loan Rates

February 16, 2019
FHA Rates for February 16, 2019
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?
FHA.com is a private company, is not a government agency, and does not make loans.

Responsible Home Ownership

Loan Assistance Programs 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.

NEW: Down Payment Assistance Programs for 2019

The Responsible Home Ownership program is run by a non-profit organization called Community Housing and Development Corp. The Responsible Home Ownership program offers down payment assistance to low-income individuals who have steady income and good credit. You may qualify for this program if you meet the following criteria:

  • You meet the low-income criteria for this assistance program.
  • You are pre-qualified for an FHA home loan, or are approved for an FHA loan.
  • You are purchasing a home in the United States (as opposed to "offshore").
  • You purchase a "participating home".

The participating home requirement means the seller must sign the "Participating Home Agreement". Check with your loan officer and/or realtor to learn how to get your seller involved in this program if the seller is not already participating. Funds from this program can be used for both closing costs and down payments.

This down payment assistance program is much different than other programs in one major way; it is not limited to owner-occupied single family residences. The terms of this program allow down payment assistance for multi-family homes and even commercial purchases.

Some of the purchases you can make using down payment assistance from the Responsible Home Ownership program may fall outside the bounds of what you are permitted to buy with an FHA loan. Check with your loan officer if you have specific questions about your participation in this program using an FHA-approved home loan.

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:

RHO

FREE CREDIT SCORES   From All 3 Bureaus  

Do you know what's on your credit report?

Learn what your score means.


FHA Loan Articles and Mortgage News

FHA Loans In 2019 Offer Choices to Home Buyers

January 31, 2019 - An important thing to know about applying for an FHA mortgage in the new year is that FHA loan limits are higher in 2019, giving people the ability to borrow more to buy a home. And you don't have to stay with your current lender when you are doing an FHA-to-FHA refi loan.

First Homes, First-Time Home Buyers, and Credit Requirements

January 30, 2019 - Looking for a first home but worried about your credit scores? FHA loans feature lower credit requirements but it’s easy to forget that FICO scores are not the only criteria used to judge your ability to afford a first home loan.

Five Ways to Tell You Are Ready to Apply for a Home Loan

January 28, 2019 - There are five basic areas you should prepare in before filling out paperwork to apply for an FHA home loan. If you haven’t taken these steps, it is best to do so before you submit your application to the lender. 

Credit Score Requirements for Mortgages: Facts You Should Know

January 27, 2019 - There are published minimum FICO scores for many government-backed mortgage loan programs including FHA loans. The VA home loan program requires no down payment AND has no VA-required minimum FICO scores, but they're not available to just anyone.

FHA One-Time Close Construction Loans and Interest Rates

January 26, 2019 - Mortgage loan Interest rates can and do change on a daily basis; some of those changes are minor, others may result in a sharp upward or downward turn. The mortgage loan rates a borrower checks in the morning may not be the same rates as those posted later in the day.

FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!