FHA Mortgage Rates Today 2026
Current FHA loan rates updated daily. Compare FHA vs conventional, calculate MIP costs with our interactive calculator, and view FHA loan limits for your state.
Last updated: June 10, 2026
Current FHA Mortgage Rates
Average FHA rates from lenders nationwide
| Loan Type | Interest Rate | APR | Change |
|---|---|---|---|
| 30-Year FHA Fixed | 6.50% | 6.65% | +0.01 |
| 15-Year FHA Fixed | 6.00% | 6.18% | —0.00 |
| 30-Year FHA Refinance | 6.25% | 6.40% | -0.02 |
| 5/1 FHA ARM | 5.85% | 6.40% | -0.02 |
FHA Loan Requirements 2026
FHA loans are insured by the Federal Housing Administration and are designed to make homeownership accessible to more borrowers. Because the government insures the loan, lenders can offer more flexible qualification requirements. Here are the key FHA loan requirements for 2026:
Credit Score Requirements
580+ Credit Score
Qualifies for 3.5% down payment — the most popular FHA option
500-579 Credit Score
May qualify with 10% down payment. Lender discretion applies.
Other Key Requirements
- ✓Valid Social Security number
- ✓Legal residency in the U.S.
- ✓2 years of employment history (exceptions for recent graduates)
- ✓Debt-to-income ratio below 43% (up to 50% with compensating factors)
- ✓Property must meet FHA minimum property standards
- ✓Home must be your primary residence (no investment properties)
Interactive FHA MIP Calculator
Use the sliders below to calculate your FHA Mortgage Insurance Premium (MIP) based on your loan amount, interest rate, and down payment. See how MIP affects your total monthly payment.
Total Monthly Payment
⚠ Important FHA MIP Rule Change
For FHA loans with case numbers assigned on or after March 20, 2023, annual MIP is no longer automatically required for the life of the loan. If your down payment is 10% or more, MIP can be cancelled after 11 years. If your down payment is less than 10%, MIP is still required for the life of the loan.
2026 FHA Loan Limits by State
FHA loan limits vary by county and are based on local home prices. The baseline limit for a single-family home in 2026 is $530,250, but high-cost areas have limits up to $1,149,450. Below are FHA loan limits for key states:
| State | 1 Unit | 2 Units | 3 Units | 4 Units |
|---|---|---|---|---|
| California | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Texas | $530,250 | $679,650 | $822,375 | $1,021,750 |
| New York | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Florida | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Illinois | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Pennsylvania | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Ohio | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Georgia | $530,250 | $679,650 | $822,375 | $1,021,750 |
| North Carolina | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Michigan | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Arizona | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Colorado | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Washington | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Massachusetts | $530,250 | $679,650 | $822,375 | $1,021,750 |
| Virginia | $530,250 | $679,650 | $822,375 | $1,021,750 |
* Limits shown are for standard and high-cost areas. Some counties may have different limits.
FHA vs Conventional Loan: Which Is Better?
Choosing between an FHA and conventional loan depends on your credit score, down payment amount, and long-term plans. Here is a detailed comparison to help you decide:
| Feature | FHA Loan | Conventional Loan |
|---|---|---|
| Min. Down Payment | 3.5% | 3-5% |
| Min. Credit Score | 580 | 620 |
| Mortgage Insurance | UFMIP 1.75% + Annual 0.55% | PMI if under 20% |
| MIP/PMI Cancellation | After 11 years (if 10%+ down) or life of loan | At 20% equity |
| Interest Rate | ~0.1-0.25% lower | Slightly higher |
| Loan Limits | $530K-$1.15M | $766K-$1.15M |
| Property Types | Primary residence only | Primary, 2nd home, investment |
| DTI Ratio | Up to 50% | Up to 45-50% |
Choose FHA If...
- ✓Your credit score is between 580-660
- ✓You can only afford 3.5% down
- ✓You have a higher DTI ratio (up to 50%)
- ✓You are a first-time home buyer
Choose Conventional If...
- ✓Your credit score is 680+
- ✓You can put 10-20% down
- ✓You want to avoid lifetime MIP
- ✓You are buying a second home or investment property
FHA Loan FAQ
What is the current FHA mortgage rate?
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As of June 2026, the average 30-year FHA fixed rate is approximately 6.50%. FHA rates are typically 0.1-0.25% lower than conventional rates, but the added MIP means the total monthly cost may be higher.
How much is FHA mortgage insurance?
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FHA MIP consists of two parts: an upfront premium of 1.75% of the loan amount (can be financed into the loan) and an annual premium of 0.55% that is divided into monthly payments. On a $350,000 loan, expect to pay about $134/month in MIP plus $6,125 upfront.
Can I cancel FHA mortgage insurance?
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For FHA loans originated after March 2023 with 10% or more down, annual MIP can be cancelled after 11 years. With less than 10% down, MIP lasts the life of the loan. Many borrowers refinance to a conventional loan to remove MIP once they reach 20% equity.
What is the maximum FHA loan amount in 2026?
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The 2026 FHA loan limit for a single-family home ranges from $530,250 in low-cost areas to $1,149,450 in high-cost areas like San Francisco and New York City. Multi-unit properties have higher limits.
Can I get an FHA loan with bad credit?
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FHA loans accept credit scores as low as 500 (with 10% down) or 580 (with 3.5% down). This makes FHA one of the most accessible loan options for borrowers with less-than-perfect credit.
How long do I need to wait after bankruptcy for an FHA loan?
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After Chapter 7 bankruptcy, you must wait 2 years from the discharge date. After Chapter 13 bankruptcy, you may be eligible during the repayment period with court approval, or 1 year after discharge. Foreclosure requires a 3-year wait.
Calculate Your FHA Payment
Use our free mortgage calculator to see your FHA monthly payment including MIP.