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Current FHA Loan Rates

Understanding Your FHA Loan Offers

View our FHA loan rate table to see current, up-to-date interest rates by our top-rated FHA lenders. To get the best rate on your FHA loan, there are a few things you can do to ensure you’re paying the least amount of money in interest possible.

First, improve your credit score. While you don’t have to have an excellent credit ranking to qualify for an FHA loan (a minimum score of just 580 is needed to put down the low down payment requirement of 3.5 percent), you will receive a better interest rate if your score is considered good to excellent. Here are five simple ways you can improve your credit ranking.

Second, lower your debt-to-income ratio by paying down as much debt as possible. And, make sure to never miss a payment as your payment history makes up 35 percent of your credit score. By having little to no debt and a high credit score, you’re certain to see some of the best rates possible on your FHA loan.

And finally, make sure to comparison shop different lenders. Compare APRs, not just interest rates, along with fees and costs associated with the loan. By taking the time to shop around, you could potentially save tens of thousands of dollars over the life of the loan.

To see how even a slight change in rate can affect your payments, use our FHA loan calculator when getting quotes.