FHA Loans
Get a mortgage with a lower credit score and smaller down payment.
FHA Mortgage Rates
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Rates shown reflect current products available with Rocket Mortgage, a provider on our network.
15-year FHA Fixed-Rate Loan:An interest rate of 7.125% (8.113% APR) is for the cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $3,213.39. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.
Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.15% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.15% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.
20-year FHA Fixed-Rate Loan:An interest rate of 7.125% (8.232% APR) is for the cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,884.16. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.
Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.
25-year FHA Fixed-Rate Loan:An interest rate of 6.99% (7.978% APR) is for the cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,616.32. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.
Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.
30-year FHA Fixed-Rate Loan:An interest rate of 6.99% (7.889% APR) is for the cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,471.37. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.
Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.
Assumptions
- Mortgage rates could change daily.
- Actual payments will vary based on your individual situation and current rates.
- Some products may not be available in all states.
- Some jumbo products may not be available to first time home buyers.
- Lending services may not be available in all areas.
- Some restrictions may apply.
- Based on the purchase/refinance of a primary residence with no cash out at closing.
- Refinancing may cause finance charges to be higher over the life of the loan.
- We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
- The lock period for your rate is 45 days.
- If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
- Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Rocket Mortgage offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call to talk to one of our mortgage experts.
- One point is equal to one percent of the loan amount.
Mortgage Rates Trends
This graph shows how weekly average mortgage rates have changed over the years.
What To Know About FHA Loans
Who Are FHA Loans Best For?
An FHA loan might be a good option for you if:
- You have fair credit.
- You want to make a smaller down payment.
- You have a steady income and plan to live in the home you’re buying.
How Do FHA Loans Work?
- FHA loans are insured by the Federal Housing Administration, allowing lenders to offer loans with more lenient financial requirements.
- Borrowers must pay closing costs but can roll those fees into their loan amount. They also must pay an upfront and annual mortgage insurance premium.
- Homes must pass an FHA-approved appraisal and meet minimum property standards.
How Do I Qualify For A 30-Year Fixed-Rate FHA Loan?
- Minimum 3.5% down payment with a credit score of at least 580
- Minimum 10% down payment with a credit score of at least 500
- A debt-to-income ratio below 43%, depending on the lender
- Must pay closing costs, typically 3% – 6% of the purchase price
2026 FHA Loan Limits
Each year, the Department of Housing and Urban Development (HUD) updates the FHA loan limits, which are calculated as 65% of the loan limits for conforming loans. Below are the 2026 FHA loan limits by property size (measured in number of units), accounting for the limit floor and ceiling and addressing special areas like Alaska and Hawaii.
| Property Size | Limit Floor (Lower-Cost Areas) | Limit Ceiling (High-Priced Areas) | Special Areas (Alaska, Hawaii, Guam and the U.S. Virgin Islands) |
|---|---|---|---|
| Single family | $541,287 | $1,249,125 | $1,873,625 |
| Duplex | $693,050 | $1,599,375 | $2,399,050 |
| 3 Units (Triplex) | $837,700 | $1,933,200 | $2,899,800 |
| 4 Units (Quadplex) | $1,041,125 | $2,402,625 | $3,603,925 |
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FHA Loan Benefits
- Lower down payment requirements (as low as 3.5%)
- Option to select between a 15-year or 30-year loan
- Offers a fixed or variable rate (adjustable rate)
- Individuals with a lower credit score may qualify
- Closing costs can be rolled into the loan
- Can use an FHA Streamline to refinance with minimal documentation
FHA Property Requirements
- FHA loan amounts may not exceed the loan limit in your area. HUD provides an online tool that allows you to look up the loan limits in your area.
- The home and property must meet the FHA’s minimum standards for safety, security and structural integrity.
- You must move into the home within 60 days of closing.
- The home must be your primary residence. Investment properties and second homes do not qualify for FHA loans.
Frequently Asked Questions
Explore the most common questions about FHA loans and get the answers you need.
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