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