|Term||30-year fixed - FHA|
|Term||15-year fixed - FHA|
|30-year fixed - FHA|
|15-year fixed - FHA|
What is an FHA refinance loan?
A Federal Housing Administration (FHA) loan is a government-backed home mortgage loan with more flexible lending requirements than conventional refinance loans. Because of this, FHA mortgage interest rates may be somewhat higher. A monthly mortgage insurance premium will be required, along with the monthly loan payments. Use our mortgage refinance calculator to get a monthly payment estimate.
FHA mortgage insurance
The Federal Housing Administration (FHA) insures FHA loans. The FHA qualification process may be easier because it has more flexible credit requirements. If you're a current military member or veteran, you may be eligible for a VA refinance loan.
FHA loan benefits and considerations
Required credit scores for FHA loans are lower
Borrowers can qualify for FHA loans without having a long credit history or good credit score.
Popular for refinancing
Many borrowers with adjusting ARMs (adjustable rate mortgages) look to refinance into fixed-rate FHA loans. Learn more about your refinance options.
Current U.S. Bank customers can apply for a fast, competitive mortgage refinancing loan called a Streamline Refinance. This loan could allow you to reduce your loan term or qualify for a lower interest rate.
Current FHA refinance rates
FHA loans come in 15- and 30-year options. Check out today’s 30-year FHA refinance rates.
FHA refinance loan requirements and qualifications
- FHA loan limit - FHA home loans have maximum mortgage limits that vary by state and county.
- FHA property requirements - FHA loans require that the home being refinanced meets certain conditions.
- If an appraisal is required, the home has been appraised by an FHA-approved appraiser.
- The home will be used as the primary residence (where the borrower lives).
- The home protects the health and safety of the occupants.
- The home protects the security of the property.
- The home does not have physical deficiencies or conditions affecting its structural integrity.
An FHA mortgage may be right for you if your credit does not meet the requirements for a conventional loan, or if you have limited equity in your existing home. Compare mortgage options to learn more, or contact a mortgage loan officer for help deciding which mortgage option is right for you.