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

Open a Free Student Checking Account with First Bank

If you are thinking about opening a checking account while in college, you may be wondering what a no fee student checking account is, and where you can get one. Unexpected expenses can put stress on you financially and...

Mobile Banking – Jacksonville NC

If you’re looking for more flexibility in managing your accounts, First Bank provides mobile banking in Jacksonville, NC. Access your accounts from the comfort of your own home, our free Mobile Banking service brings...

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...

Community Bank for Small Business

Since 1935, First Bank has been the go-to community bank for small business owners. Our first branch opened in Troy, NC, where we helped farmers and local business owners manage their funds. We have continued to evolve to...

Banks in High Point, NC

If you’re running a comparison between banks in High Point, NC, you can use First Bank as the standard. We’ve set the bar high and are proud to be the place that other banks in High Point, NC, strive to be. Our...

Calculate your Balance Transfer

If your current credit card isn’t meeting all of your needs, consider switching to a First Bank credit card. First Bank now offers the option to transfer your balance from your current credit cards to a First Bank...

Wondering Where to Get Mobile Merchant Services?

Wondering where to get mobile merchant services for your business? First Bank can help you with all of your business needs, including in-store and mobile merchant services such as payment processing, reporting, and check...

Best Personal Checking Account Near Me

If you’re looking to open a checking account near you, visit your local First Bank today. Whether you want a basic checking account or a premium checking account with benefits, First Bank has a variety of...

5 Ways to Get the Lowest Mortgage Rates

If you are looking for some of the lowest mortgage rates in North Carolina or South Carolina, First Bank might be able to help. Choosing a mortgage option can be one of the most confusing aspects of the home purchasing...

Best Small Business Bank – North Carolina

If you’re looking for the best small business bank in North Carolina, the search ends with First Bank. First Bank’s doors first opened in 1935 to serve farmers and local businesses when the small town of Troy,...