| Term | 30-year fixed - FHA |
| Rate | |
| APR Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans. |
|
| Points Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. |
| Term | Rate | APR Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans. |
Points Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. |
|---|---|---|---|
| 30-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.
Find a mortgage loan officer
Call 855-815-8894
Request a call
Chat with a bankerPrequalifying helps you see how much you might be able to borrow.
Or if you’re ready to refinance, start your application.
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