· An FHA loan is a government-backed mortgage insured by the federal housing administration, or FHA. FHA-approved lenders can have different rates and costs, even for the same loan. fha loans are available through many sources – from the biggest banks and credit unions to community banks.
Bank of America is one of the four largest banks in the United States. Headquartered in Charlotte, North Carolina, it traces its origins back to 1904 and today has assets of over $2 trillion. It offers FHA loans and other types of federally insured mortgages to customers in all 50 states.
The banks say very few customers pay this rate, with discounts shaving between 130 basis points and 150 basis points off the.
Fha Home Loans Interest Rate Conventional Loan Versus Fha Fha Loan First time buyer fha home loans are flexible and accessible. home buyers today don’t often buy homes with 20% down. Low- and no-downpayment mortgages remain popular with first-time buyers and repeat buyers alike.