30-Year FHA home loans

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A mortgage that fits you:

These rates are current for , but ask us about a free rate lock.

30-Year FHA Mortgage Loans

Rate: 4.875%
Origination: 1.0% Fee
APR*: 5.391
Notes: This is one of many programs we offer. Please visit us or contact a mortgage specialist to see if it's perfect for you. You can also apply on line right now.

Best Choice If:

You are a first-time home buyer with limited assets
You will occupy a single-dwelling residence and it's not an investment property

Advantages:

Fixed rate of interest
Level payments for the full term of the loan
Down payment can come from gift funds from a family member

Disadvantages:

You may end up paying more in interest over the life of the loan than if you put 20% or more down .

*Annual Percentage Rate. Rates and fees will vary depending on the terms of the loan. APR calculation is based on a $100,000.00 loan amount, with a 1.00% loan origination fee (1.50% for manufactured homes), at 80% Loan to Value (75% for Investment Properties) and based on a 740 FICO score. Loan programs and rates are subject to change without notice. Rates listed are those that are offered to consumers with "good" credit characteristics and terms may vary based on the credit worthiness of the individual. Rates and terms may be affected by the loan's purpose, amount financed, or by the type of property.

**Northwest Community is providing information about the First-Time Home Buyer Tax Credit for general awareness only and not as legal or tax advice. Before you make any decisions, speak with a professional legal or tax consultant to see how this credit would work in your particular situation.

The FHA program lets you finance a home purchase with as little as 3% down payment

This loan program allows conventional financing for borrowers with conforming credit. Your down payment can come from: your own funds; a gift from a family member, from grants or loans from nonprofit organizations, from your employer(s), or from government agencies.

These loans can allow for higher than normal debt-to-income ratios, but that does depend on credit history. There is no minimum down payment for the "own funds" requirement, so this can make it easier for many borrowers who rely on gift funds to help cover the down payment.

Loans that use this program must be at a 30-year, fixed rate. Minimum loan amount that may be financied (for qualified buyers) is $50,000 and the maximum amount varies by county. Go here to use our calculator which examines how term and rate can affect your payments. We also have a calculator that helps borrowers determine how much home they can afford.