FHA Mortgages

FHA Interest Rates

 

If you are considering purchasing a home in the near future, you should consider a FHA loan. FHA loans offer low interest rates, no down payment options, and lower closing costs. It is easy to qualify for a loan because the FHA guarantees the loan to the lender in case the buyer defaults.

Currently, the FHA has very reasonable interest rates on fixed-rate mortgage loans. For a 30-year fixed-rate loan, the FHA currently offers an interest rate of 6 percent, or 6.184 percent annual percentage rate with 1.875 points. For 15-year fixed-rate loans, the FHA currently offers an interest rate of 6 percent, or 6.241 percent annual percentage rate with 1.25 points.

If you are in the market for a new home, or if you are interested in current FHA rates and want to refinance your home, go to the FHA government site for more information about FHA loan requirements, terms, and refinancing options.