FHA Rates

Welcome to our site! And, welcome to your journey to being a home owner! With our help, and your goals, owning a home could be in your reach.

In 1934 Congress created the Federal Housing Administration, what is more commonly known as FHA. Over three decades passed, and in 1965 FHA became part of HUD, which is formally known as the Department of Housing and Urban Development. Since their beginning in 1934, these agencies have helped make over 34 million Americans dream of home ownership a reality. FHA is the largest mortgage insurer on earth and they (along with HUD) regulate America’s housing industry. FHA is entirely self-funded, and takes absolutely no taxes from the citizens of our country to operate. The opportunities that FHA provide to hopeful homeowners is only one of the benefits of this agency. Because of it’s existence, and the loans that it insures, our economy has prospered. The trickle effect of what home ownership produces, has helped the country as a whole.


For over 80 years, HUD has helped lenders qualify and provide more affordable loans to people. How? HUD insures the loan, and because it is backed by the Federal Government, your FHA approved lender can provide you a loan with a lower down payment, lower closing costs and easier credit qualification.


Since it’s creation, FHA has provided mortgage insurance on over 34 million properties throughout the United States and U.S. territories. This has allowed for many Americans to achieve the “American Dream” of owning their own home, by getting approved through and FHA-approved lender. The insurance that FHA places on a mortgage, allows for a FHA-approved lender to provide for some people, the only chance at qualifying for a loan. With an opportunity to own with a smaller down payment, smaller payments on the loan, and credit qualification being a much easier process, FHA is a smart choice for many.

FHA in nearing 5 million loans on single family homes in America – why shouldn’t your home bring them closer to that 5 million mark? The following are just a few reasons why you should look to an FHA loan:

v  FHA-insured loans require very little cash investment to close a loan.

v  More flexibility in calculating household income and payment ratios.

v  Monthly payments, on average, are lower under an FHA program.

v  Credit requirements are less stringent than with a conventional loan.

v  In most cases, the insurance cost to the homeowner will drop off after five years or when the remaining balance on the loan is 78% of the value of the property (whichever is longer).


FHA currently insures mortgages on the following types of loans:

v  Single Family Homes

v  Multi-Family Homes

v  Manufactured Homes


FHA is part of, and backed by, the Federal Government. It provides lenders with the security that if a homeowner were to default on their mortgage loan, FHA would pay the claim for their losses on a FHA insured loan; which allows for them to more easily qualify you with the understanding that they bear less risk than on a conventional loan. To qualify for a FHA loan & obtain FHA mortgage insurance, that loan must meet and fall into established guidelines – your FHA-approved lender will guide you through all phases of this process to ensure you meet the criteria.

Please feel free to visit FHA’s website for any further information at www.hud.gov and for information by state please click here: Information by State .

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