· However, it’s important to consider some of the drawbacks of taking out an FHA loan to see if the pros outweigh the cons. While you may be approved for an FHA loan with a lower credit score, you also might have to deal with a higher interest rate on your mortgage.
What Are Fha Rates Today’s Thirty year mortgage rates. When purchasing a home, one of the most confusing aspects of the process is selecting a loan. There are many different financial products to choose from, each of which has advantages and disadvantages. The most popular mortgage product is the 30-year fixed rate mortgage (FRM).