what is the interest rate on an fha loan

First, improve your credit score. While you don’t have to have an excellent credit ranking to qualify for an FHA loan (a minimum score of just 580 is needed to put down the low down payment requirement of 3.5 percent), you will receive a better interest rate if your score is considered good to excellent.

FHA significantly expands LIHTC financing program for multifamily properties – According to HUD, the move is a “significant expansion” of an FHA pilot program that streamlines mortgage insurance applications. review period allows borrowers to lock in better interest rates.

Quicken Loans to pay $32.5 million to resolve mortgage suit – The agreement also involves paying $7 million in interest, according to Quicken Loans. Emerson stressed that number represents a 0.02% error rate on some $108 billion in FHA-related lending from 2007.

bad credit fha home loans equity loan vs equity line of credit out of reach – unless you access the equity with a home equity loan or a home equity line of credit, known as a HELOC. These two types of “second mortgages” are drawn on the value of your home above.