This table shows rates for FHA mortgages through U.S. Bank.
Term 30-year fixed - FHA
Term 15-year fixed - FHA
This table shows rates for FHA mortgages through U.S. Bank.
Term Rate APR
30-year fixed - FHA
15-year fixed - FHA

FHA loan interest rates

FHA loans come in 15- or 30-year fixed rate terms for qualified applicants.

What is an FHA loan?

An FHA (Federal Housing Administration) loan is a government-backed home mortgage loan with more flexible lending requirements than those of conventional loans. Because of this, FHA mortgage interest rates may be somewhat higher. Additionally, the buyer may be required to pay monthly mortgage insurance premiums along with their monthly loan payments.

Is an FHA loan insured?

FHA loans are insured by the Federal Housing Administration (FHA). They may have an easier qualification process than conventional mortgages with less stringent down payment and credit requirements. Note: If you're a current military member or veteran, you may be eligible for a VA home loan with little or no down payment.

FHA loan benefits and considerations

Lower down payments

An FHA mortgage may require a down payment as low as 3.5 percent, although the interest rate may be somewhat higher than with a conventional mortgage.

Lower credit thresholds

One of the benefits of the FHA loan program is that home buyers may qualify even without a long credit history or outstanding credit.

Popular for refinancing

Many borrowers with newly adjusting ARMs look to refinance into fixed-rate FHA loans. Learn more about your refinance options.

FHA loan requirements and qualifications

  • Loan amount - FHA home loans have maximum mortgage limits that vary by state and county.
  • Down payment - FHA loan guidelines require a minimum down payment of 3.5 percent.
  • Property condition - FHA loans require that the home being purchased meets certain conditions and is appraised by an FHA-approved appraiser. New FHA loans are available only for homes that will be used as the buyer's primary residence.

An FHA mortgage may be a good fit if your credit is not up to the requirements of a conventional loan or if you have limited cash for a down payment. However, other mortgage loan options exist. Compare mortgage options to learn more on your own, or contact a mortgage loan officer for help deciding which mortgage option is best suited for your needs.