Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

What Are 30-Year FHA Mortgage Rates?

If you are considering applying for an FHA loan to purchase a home, you may be wondering, “What are 30-year FHA mortgage rates?”

If you want to find out what the current average 30-year FHA mortgage rates are, the most accurate way to find out is to visit your local First Bank and ask about our FHA mortgage loans.

Determining 30-Year FHA Mortgage Rates

Securing a good 30-year FHA mortgage rate depends on a few different factors, including:

  • How much you can put forth as a down payment
  • Whether the loan is fixed or adjustable-rate
  • If the loan is adjustable-rate, your margin
  • Your credit history and current finances

Exterior of a home with planted flowers.

What is an FHA Mortgage Loan?

The recession experienced in the last decade caused a dip in the housing market. This downward trend of the housing market has led to an increasing popularity of FHA mortgage loans. But before you shop around for what all the current 30-year FHA mortgage rates are, it’s important to know exactly what FHA loans are.

An FHA loan is a mortgage that is insured by a government agency called the Federal Housing Administration. By purchasing mortgage insurance, borrowers are often able to secure low interest rates under more flexible qualification requirements. A few key facts about FHA mortgages include:

Down payments for an FHA loan can be as low as 3.5%. This is well below the traditional down payment of up to 20%.

  • FHA loans allow for sellers, lenders or builders to contribute to the closing costs on the buyer’s behalf.
  • The lender must be FHA-approved. First Bank is an example of an FHA-approved lender with 30-year FHA mortgage rates.
  • Mortgage insurance is required. This protects the lender from loss as a result of a default and is what opens the door for low down payments and interest rates.

Visit Your Local First Bank Today

If you want to know what 30-year FHA mortgage rates are, contact your local First Bank representative.

Use a loan officer finder to locate a First Bank loan specialist near you and set up a consultation. If there’s no First Bank loan officer near you, simply fill out our online application and a mortgage specialist will contact you to address your needs.*


*Loans subject to credit approval.

———

MortgageNewsDaily: http://www.mortgagenewsdaily.com/mortgage_rates/

Bank Rate: http://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-1.aspx

Trending Topics

Lumberton Bank

The city of Lumberton, North Carolina, only takes up about 15.8 square miles of land, but within that area there are plenty of shops, restaurants, entertainment, and banks for residents to enjoy. In just a few square...

Where to Get Small Business Loan Rates

So you’ve decided to start a small business, and you have everything sorted out. Business plan…check, location, check. Small business loan rate quotes….not checked. Okay, so you have almost everything...

Do You Need Help Financing Your Wedding? First Bank Can Help!

A wedding is a beautiful day filled with love and commitment. Many consider it the biggest day of their lives. It’s a day you’ll spend months planning for and the rest of your life remembering. It’s also...

Where to Get Online Payroll Services

If you are wondering where to get online payroll services, consider First Bank. With First Bank’s online payroll services, you can: Reduce expenses associated with paper-based payment systems like printing and...

Rental Property Mortgage Rates – Jacksonville, NC

Rental property mortgage rates can vary from bank to bank. In order to be sure you are getting the best rates possible, it is important to use a bank you trust. First Bank in Jacksonville, NC offers some of the best rental...

Mortgage Rates 101: Information You Should Know

Acquiring information about mortgage rates is a vital step in the home buying process. Mortgage rates vary based on several factors, such as the amount and type of your loan and your credit score. To get better mortgage...

Where to Get 15-Year Mortgage Rates

If you’re ready to buy a home, you’re probably wondering where to get 15-year mortgage rates, or you may just be wondering what a mortgage is. First Bank will go over your options with you and help you...

Community Banks Near Me

Where can I find banks near me? When it comes to banking, customers want banks nearby that are part of the communities where they live, work and play. First Bank is rooted in a community focus that dates back to the days...

What Is a Child Savings Account?

“What is a child savings account?” In a child savings account, you can deposit spare change, birthday money and other loose funds to accrue some interest throughout their childhood. This teaches children...

Mastercard Bank

First Bank offers Mastercard debit and credit cards for individuals and businesses who want to get the most out of their card. With a Mastercard credit or debit from First Bank, you’ll enjoy all of the benefits...