FHA Rates by Credit Score
FHA mortgage rates change every business day with the bond market. Here is what drives fha rates by credit score and how to get the best pricing.
What to know
FHA's MIP is the same at any score, but the base rate is not: lenders price 580-619 borrowers well above 720+ borrowers, so improving your score still lowers your FHA rate.
What affects your FHA rate
- Your credit score and down payment
- Loan term (15- vs 30-year)
- Discount points purchased
- The bond market and Fed policy
- Lender margins — which is why comparing quotes matters
Example payment by rate
| Rate | P&I on a $300,000 loan (30-yr) |
|---|---|
| 5.50% | $1,703 |
| 5.75% | $1,751 |
| 6.00% | $1,799 |
| 6.25% | $1,847 |
| 6.50% | $1,896 |
| 6.75% | $1,946 |
| 7.00% | $1,996 |
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Frequently Asked Questions
- FHA Rates by Credit Score — the quick answer?
- FHA's MIP is the same at any score, but the base rate is not: lenders price 580-619 borrowers well above 720+ borrowers, so improving your score still lowers your FHA rate.
- Are FHA rates lower than conventional?
- FHA base rates are often similar to or slightly below conventional, but FHA mortgage insurance can make the all-in cost higher. Compare total monthly cost, not just the rate.