FHA Loan Rate

FHA Loan Rate
Get a Great Rate with our FHA Lenders

Millions of homeowners have benefitted from FHA loan rates in the last few years. Every time the Federal Reserve reduced interest rates, FHA loan rate opportunities increased as more and more affordable loan options became available. Unlike many traditional loans, there is no penalty for paying off or refinancing FHA rates. While in the past FHA was usually used in first time home buying situations, now FHA mortgage rates have become so attractive that borrowers are going to FHA for refinancing transactions as well. FHA refinance programs have grown significantly since its inception in 1934. Now FHA borrowers can take advantage of the FHA streamline refinancing and non-FHA borrowers can get access to cash out refinancing and rate and term programs.

Save Money with Low Fixed FHA Loan Rates

Government Discussing FHA Reform: Senate Banking Committee Chairman Tim Johnson (D-S.D.) and ranking member Mike Crapo (R-Idaho) released a discussion draft that strengthens underwriting standards, improves lender accountability measures and overhauls the agency's reverse mortgage program. Several GOP members of the House Financial Services Committee last week released a discussion draft that would deal with both issues together and would require the FHA to become a self-sustaining entity, most likely within about two years of enactment of a measure.

The measure would create an advance warning system by raising the minimum for the Mutual Mortgage Insurance Fund's capital reserve ratio to 3%. If the capital ratio doesn't meet certain targets as it builds to the new minimum ratio, the bill would require the Department of Housing and Urban Development to take immediate action to address the shortfall.

The legislation also would require minimum annual mortgage insurance premiums to improve FHA's long-term solvency. The levels will be reevaluated each year to ensure that the premiums expected risk and maintain the capital reserve ratio. Read more about FHA Reform at the Hill.com