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Affinity Title

  1. Home
  2. Mortgage
  3. FHA
family

FHA Loan rates starting at % (APR %)¹

Affordable home ownership.

CheckMark

As little as 3.5% down

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620+ credit score

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Flexible guidelines

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

  • Apply before becoming a member.

    After your application, we’ll help you:

    1. Discover you’re eligible to become a PenFed member

    2. Open a Savings/Share Account and deposit at least $5

  • Apply before becoming a member.

    After your application, we’ll help you:

    1. Discover you’re eligible to become a PenFed member

    2. Open a Savings/Share Account and deposit at least $5

  • Benefits
  • Requirements
  • Knowledge Center
  • Apply before becoming a member.

    After your application, we’ll help you:

    1. Discover you’re eligible to become a PenFed member

    2. Open a Savings/Share Account and deposit at least $5

  • Apply before becoming a member.

    After your application, we’ll help you:

    1. Discover you’re eligible to become a PenFed member

    2. Open a Savings/Share Account and deposit at least $5

image1

What is an FHA loan?

FHA loans are backed by the US Government. The interest rates are low, and you only need a 3.5% down payment. FHA loans have less stringent credit guidelines compared to conventional mortgages. First-time homebuyers tend to choose this type of loan because it's easier to qualify for.

What is an FHA Fixed-rate Mortgage?

With an FHA fixed-rate mortgage, your interest rate will remain the same during the term of the loan, which makes budgeting much easier. The only time your monthly payment will change is if your property taxes or insurance does.

Mortgage Knowledge Center

What is an FHA Loan?
Benefits of an FHA Mortgage
Top Ten Advantages of an FHA Loan - Especially with a Credit Union

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How Do I Get an FHA Loan?

What you need to qualify:

  • Satisfactory credit score (typically 620 or higher)
  • Proof of income (typically 1 - 2 months of paystubs)
  • At least 1 year of W2s
  • Available for purchase or refinancing a primary residence only
  • Property appraisal from an FHA-approved appraiser
  • Current debt information (auto, alimony, credit card, etc.)
  • Acceptable debt-to-income ratio (DTI)

Mortgage Knowledge Center

What are the Requirements for an FHA Loan?
Tips on how to get an FHA Loan

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

Mortgage Payment Calculator

Estimate your mortgage payment, based on your home’s purchase price, down payment, rate, and term.

The calculator above is for educational purposes only. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

Free eBooks Download

free ebook download FHA loan

EBOOKS

 FHA Loans 101

 VA Loans – Everything You Need to Know

 Buying a Home

 Selling Your Home

 Refinancing Your Home

 Home Equity Line of Credit (HELOC)

Free eBooks
free ebook download FHA loan

EBOOKS

 FHA Loans 101

 VA Loans – Everything You Need to Know

 Buying a Home

 Selling Your Home

 Refinancing Your Home

 Home Equity Line of Credit (HELOC)

Free eBooks

Mortgage Knowledge Center

5 FHA rules to know before getting a loan

Top 10 advantages of an FHA loan

Top FHA Frequently Asked Questions

See All Articles

Disclosures

1Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on discount point, which equals percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 96.5%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.

Rates quoted require a loan origination fee of 1%. Options without this fee available for an increased interest rate.

Maximum loan amount are subject to FHA loan limits and dependent on the number of units.

Points are the responsibility of the borrower and not covered in promotions.

To receive any advertised product you must become a member of PenFed. 

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This credit union is federally insured by the National Credit Union Administration. Rates are current as of December 2023 unless otherwise noted and are subject to change.

APY = Annual Percentage Yield
APR = Annual Percentage Rate


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Routing #256078446

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IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party Website that is not a part of Pentagon Federal Credit Union.


The content you are about to view is produced by a third party unaffiliated to Pentagon Federal Credit Union. PenFed takes no responsibility for the content of the page.


IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party site. PenFed Realty, LLC is wholly owned by PenFed and this referral may provide PenFed a financial or other benefit.


For more information about the relationship between PenFed and PenFed Realty, LLC, see the Affiliate Business Arrangement Disclosure.


IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party Website.


The content you are about to view is produced by a third party website that is unaffiliated to Pentagon Federal Credit Union. PenFed takes no responsibility for the content of the page.


IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party site. PenFed Title, LLC is wholly owned by PenFed and this referral may provide PenFed a financial or other benefit.


For more information about the relationship between PenFed and PenFed Title, LLC, see the Affiliate Business Arrangement Disclosure.


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