Today's average rate
30-year fixed rate:APR 6.778%
+0.01%
Today
-0.07%
Over 1y
15-year fixed rate:APR 5.893%
+0.01%
Today
-0.07%
Over 1y
5-year ARM rate:APR 7.629%
-0.01%
Today
-0.01%
Over 1y

Compare Today's FHA Refinance Rates

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Why do you want a home loan?
Showing: Refinance, Good (720-739), 30-year fixed, Single family home, Primary residence, FHA loans, cash-out
Showing: Refinance, Good (720-739), 30-year fixed, Single family home, Primary residence, FHA loans, cash-out
License information

5 results:

30-year fixed

Northpointe
EXPLORE QUOTE
Northpointe: NMLS#447490
Lowest APR
Lowest monthly payment
FHA 30-year fixed
Northpointe
4.0
NerdWallet rating
APR
6.55% 
Interest rate
6% 
Mo. payment
$2,136 
Insurance $145
Total fees
$7,342 
About this lender
Visit lender's website | Call (866) 356-0885
Pros
  • A full slate of loan offerings.
  • Offers a no-down-payment loan with a shorter repayment term that helps accelerate home equity accumulation.
  • Digital conveniences include a mobile app.
Cons
  • You’ll need to provide contact information or speak to a loan officer for customized mortgage rates.
  • Origination fees are on the high side, according to the latest data.
NBKC
EXPLORE QUOTEon NBKC
on NBKC
NBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer service
FHA 30-year fixed
NBKC
APR
6.644% 
Interest rate
6.125% 
Mo. payment
$2,164 
Insurance $145
Total fees
$6,616 
Pros
  • Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
  • Offers low rates and fees compared with other lenders, according to the latest Federal data.
  • Displays customized rates, with fee estimates, without requiring contact information.
Cons
  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
Bethpage Federal Credit Union
EXPLORE QUOTEon Bethpage Federal Credit Union
on Bethpage Federal Credit Union
Bethpage Federal Credit Union: NMLS#449104FHA 30-year fixed
Bethpage Federal Credit Union
APR
6.935% 
Interest rate
6.375% 
Mo. payment
$2,222 
Insurance $145
Total fees
$7,440 
About this lender
Pros
  • Offers a full array of online conveniences, including loan process updates.
  • Offers financing for cooperatives, a type of home that’s common on the East Coast.
  • Sample mortgage rates available for a variety of loan products.
Cons
  • In-person service available only in Queens and on Long Island, New York.
  • USDA loans are not available.
  • Customized rates not available online.
New American Funding: NMLS#6606
Great for first-time home buyers | customer service
FHA 30-year fixed
New American Funding
APR
7.062% 
Interest rate
6.49% 
Mo. payment
$2,249 
Insurance $145
Total fees
$7,754 
Pros
  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
  • Its home equity line of credit can be used for an owner-occupied or second home.
  • Offers a program to enable buyers to make cash offers.
Cons
  • Mortgage origination fees tend to be on the high end, according to the latest federal data.
Rocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer service
FHA 30-year fixed
Rocket Mortgage, LLC
APR
7.769% 
Interest rate
7.125% 
Mo. payment
$2,400 
Insurance $145
Total fees
$9,686 
About this lender
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.
  • Offers the option to work with loan officers by phone if desired.
Cons
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Doesn't offer home equity lines of credit.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.


A Beginner’s Guide to FHA Refinancing
Last updated on July 9, 2024
Written by 
Lead Writer
Michelle Blackford
Reviewed by 
Mary Makarushka
Edited by 
Fact Checked
Assigning Editor
Fact Checked
Kate Wood
Written by 
Lead Writer
Michelle Blackford
Reviewed by 
Mary Makarushka
Edited by 
Fact Checked
Assigning Editor
Fact Checked

How to find FHA refinance rates

NerdWallet's mortgage rate tool can help you find competitive FHA refinance rates tailored to meet your needs. Just enter some information about the type of loan you're looking for and you'll get a customized rate quote in moments, without providing any personal information.

What types of FHA refinance are available?

The Federal Housing Administration offers several types of refinances for FHA loans. Which one is best for you will depend on the goal of your refinance.

Simple refinance. A rate and term refinance from one FHA loan to another is often called a simple refinance. The FHA refers to refinances where any loan type is being refinanced to an FHA loan as a rate and term refinance, so long as no cash is taken out.

Streamline refinance. Streamline refinances make an FHA-to-FHA refinance easier by having fewer requirements. A credit-qualifying streamline refinance allows you to skip the FHA appraisal. A non-credit qualifying streamline refinance has even fewer hoops to jump through, because the lender doesn't perform a credit check. If you have a strong credit score and your debt is in check, a credit-qualifying streamline may be more beneficial, since you could get a better interest rate.

Cash-out refinance: With an FHA cash-out refinance, you refinance to a larger loan amount than what you previously owed on the mortgage. The difference between what you owed and the new mortgage amount goes to you in cash. One exception is a cash-out refinance used to buy out a former co-borrower, as in a divorce. In those cases, the FHA treats the cash-out refi as a rate and term refinance.

203(k) refinance: Similar to an FHA 203(k) loan, a 203(k) refinance allows you to roll the cost of repairs or upgrades to your home into your refi. The FHA has rules about what kinds of renovations can be financed with 203(k) funds and whether an FHA consultant has to sign off on the work. If that sounds like too much red tape for you, you may want to look into other options for paying for home renovations.

What are FHA refinance closing costs?

With an FHA refinance, you'll pay many of the standard refinance closing costs that you would with any loan type. For example, you'll pay the lender origination fee, an appraisal fee if required, recording fees and so on. These usually run between 2% and 6% of the amount you're refinancing.

You'll also pay fees that are specific to FHA loans. FHA refinancers pay an Upfront Mortgage Insurance Premium (UFMIP) at closing, just as with an FHA purchase. UFMIP costs 1.75% of the total loan amount. If you refinanced to a $200,000 loan, you'd pay $3,500 in UFMIP. (If you got your original FHA loan within three years of refinancing, you may get a partial refund for the UFMIP on your new loan.)

Can you refinance to get rid of FHA mortgage insurance?

If you have an FHA loan, you're going to pay FHA mortgage insurance premiums (MIP) for eleven years or for the life of the loan, depending on the size of your original down payment. For most borrowers, the only way to eliminate FHA mortgage insurance is to refinance from an FHA loan into a conventional loan.

In order to go from FHA to conventional, you'll need to be able to meet the qualification standards for a conventional loan. That means having a credit score of at least 620 — though a higher score could get you a lower interest rate — and a debt-to-income ratio no greater than 45%. You'll also need to have at least 20% equity in your home if you want to avoid having to pay private mortgage insurance, which is required on conventional loans if the homeowner has insufficient equity.

Learn more about FHA loans:


About the author: Kate writes about mortgages, homebuying and homeownership for NerdWallet. Previously, she covered topics related to homeownership at This Old House magazine.

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30-year-fixed refinance rates