Conventional & VA Loans
Rates, terms, and fees as of January 21, 2020 6:00 pm and subject to change without notice. Select a product to view important disclosures, payments, assumptions, and APR information. Please note we offer additional home loan options not displayed here.
FHA Mortgage Rates
If you’re considering a 30-year fixed-rate FHA mortgage, the most common type of mortgage for first-time home buyers, my rates are unbeatable. Whether you’re just starting to shop for a home loan or you’re ready to get pre-approved, I’ll give you all your FHA mortgage options, including no closing cost options. Get a free, no obligation rate quote today— no personal information required.
Top FHA Mortgage Questions
What are the credit score requirements for FHA mortgages?
Preferably, you’ll want to have a minimum credit score of 620. However, depending on your overall credit history, the minimum credit score can sometimes go as low as 580.
What is the maximum debt-to-income ratio for FHA mortgages?
Your debt-to-income (DTI) ratio is the percentage of your income which goes to paying current debts. For a FHA mortgage the maximum qualifying DTI is typically 45%. That said, depending on your credit score and cash reserves, some borrowers can still qualify with a DTI as high as 50%.
What is the minimum downpayment for FHA mortgages?
FHA mortgages require a minimum downpayment of 3.5%. These funds can come from your checking, savings, 401(k) or can be gifted by immediate family members.
What if I have some derogatory events on my credit report?
Most everyone has a had a few dings on their credit at some point. To qualify for a 30-year fixed-rate FHA loan, you must meet the following requirements:
- No bankruptcies in the last 2 years
- No short sales in the last 3 years
- No foreclosures in the last 3 years
Mortgage Rate Straight Talk
Don’t make this mistake that mortgage rate shoppers make every day. It could cost you thousands.