FHA Loan benefits are just the beginning
Now available in Puerto Rico!
3.5% down payment option
More flexible credit guidelines
Rates as low as % (
% APR)1
Choose an FHA Loan that gives you more
A PenFed FHA Loan provides a great interest rate along with money-saving benefits before, while, and long after you buy. This government-backed loan requires just a 3.5% down payment. Plus, an FHA Loan has less stringent credit guidelines compared to conventional mortgages — making it ideal for first-time homebuyers.
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
10 Reasons FHA Loans and Credit Unions Go Great Together
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
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
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)
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)
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%; not to exceed $1995. Speak to a PenFed Mortgage Loan Officer for additional details.
Maximum loan amounts 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.
