subject: FHA Loans - Can You Still Buy a Home With Little Money Down and Less Than Perfect Credit? [print this page] FHA has very competitive ratesFHA has very competitive rates. Mortgage rates change daily, but on most days FHA has the same rates as conventional loans, so FHA borrowers are getting the same rate on a thirty year fixed mortgage as someone with excellent credit. FHA also has lower mortgage insurance premiums than conventional loans. Mortgage insurance is paid to the lender anytime a loan to value is greater than eighty (80) percent it is to protect the lender in case of loan default. Conventional mortgage insurance is based off credit score and loan to value. Rates start at fifty basis points (.0005) of the loan with excellent credit, and goes has high as two points (.02) percent. FHA has a upfront premium that is financed into the loan of one and three quarter (1.75) percent, and a fixed mont
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