Compare Today's FHA Refinance Rates
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- About this lenderPros
- Loan origination process can be completed online.
- Offers government-backed FHA and VA loans.
- Offers module that compares mortgage rates among other lenders.
Cons- Offers loans in many states and Washington, D.C., but not nationwide.
- Does not offer home equity loans or lines of credit.

- About this lenderPros
- Offers a program allowing qualifying buyers to make cash offers.
- Makes it easy to see customized mortgage rates.
- Average interest rates are on the low end compared to other lenders, according to the latest federal data.
Cons- Doesn’t offer USDA loans.
- VA loans are not available in every state.
- Doesn't offer home equity loans.
- About this lenderPros
- Offers unique loan types, including construction loans, first-time home buyer programs with down payment assistance and loans for self-employed borrowers.
- Real-time rate quotes available while working with a broker.
- Responsive customer service; loan disclosures available within an hour after completing your application.
- Competitive pricing often available, especially for non-traditional borrowers.
Cons- Does not publish interest rates online.
- No mortgage mobile app.
- Loans are not available in every state.
- About this lenderPros
- Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
- Offers low rates and fees compared with other lenders, according to the latest Federal data.
- Displays customized rates, with fee estimates, without requiring contact information.
Cons- HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.


- About this lenderPros
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Offers a program to enable buyers to make cash offers.
Cons- Mortgage origination fees tend to be on the high end, according to the latest federal data.


- About this lenderPros
- Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
- Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.
- Offers the option to work with loan officers by phone if desired.
Cons- Getting a customized interest rate requires a credit check, which can affect your credit score.
- Doesn't offer home equity lines of credit.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.
Mortgage rate trends (APR)
NerdWallet’s mortgage rate insight
7.028%
30-year fixed-rate“
On Wednesday, April 23, 2025, the average APR on a 30-year fixed-rate mortgage fell 4 basis points to 7.028%. The average APR on a 15-year fixed-rate mortgage fell 6 basis points to 6.126% and the average APR for a 5-year adjustable-rate mortgage (ARM) rose 7 basis points to 7.455%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 9 basis points higher than one week ago and 26 basis points lower than one year ago.
A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.
Current mortgage and refinance rates
Product | Interest Rate | APR |
---|---|---|
30-year fixed-rate | 7.022% | 7.028% |
20-year fixed-rate | 6.879% | 6.884% |
15-year fixed-rate | 6.117% | 6.126% |
10-year fixed-rate | 6.000% | 6.040% |
7-year ARM | 7.652% | 7.442% |
5-year ARM | 7.550% | 7.455% |
3-year ARM | 6.500% | 7.182% |
30-year fixed-rate FHA | 6.625% | 7.371% |
30-year fixed-rate VA | 6.359% | 6.684% |
Data source: ©Zillow, Inc. 2006 - 2021. Use is subject to the Terms of Use







👉 Did you buy a home in 2023? Refinancing might save you money — mortgage rates are down a percentage point compared to last year’s peak. See mortgage rates this week and try our refinance calculator to see how much you could save.
How to find today's FHA refinance rates
NerdWallet's mortgage rate tool can help you find competitive FHA refinance rates tailored to meet your needs. Just enter some information about the type of loan you're looking for and you'll get a customized rate quote in moments, without providing any personal information.
Your options: Common types of FHA refinance loans
The Federal Housing Administration offers several types of refinances for FHA loans. The best option for you will depend on the goal of your refinance.
Simple refinance. Like the name suggests, this refers to a basic rate-and-term refinance to a new FHA loan where you aren’t taking any cash out.
Streamline refinance. Streamline refinances make an FHA-to-FHA refinance easier by having fewer requirements. A credit-qualifying streamline refinance allows you to skip the FHA appraisal. A non-credit-qualifying streamline refinance has even fewer hoops to jump through, because the lender doesn't perform a credit check.
Nerdy Tip
If you have a strong credit score and your debt is in check, a credit-qualifying streamline may be more beneficial, since you could get a better interest rate.
Cash-out refinance: With an FHA cash-out refinance, you take out a new, larger loan than what you previously owed on the mortgage. The difference between what you owed and the new mortgage amount goes to you in cash. One exception is a cash-out refinance used to buy out a former co-borrower, as in a divorce. In those cases, the FHA treats the cash-out refi as a rate and term refinance.
203(k) refinance: Similar to an FHA 203(k) loan, a 203(k) refinance allows you to roll the cost of repairs or upgrades to your home into your refi. The FHA has rules about what kinds of renovations can be financed with 203(k) funds and whether an FHA consultant has to sign off on the work. If that sounds like too much red tape for you, you may want to look into other options for paying for home renovations.
» MORE: FHA refinance basics
How to decide: Should I refinance my FHA loan?
There are several good reasons to refinance an FHA loan. Think about your financial goals and what you’d like to accomplish. Common reasons for refinancing an FHA loan include:
Canceling FHA mortgage insurance. Once you have 20% equity built up in your home, you could eliminate monthly FHA mortgage insurance payments by refinancing to a conventional loan.
Getting a lower interest rate. This reduces your monthly payment.
Paying off your mortgage faster. A shorter term might make your monthly payments go up, but you’ll pay less in interest over the life of the loan.
Tapping into your home equity. A cash-out refinance lets you access some of your home value as cash. Financing home improvements is a common use of the funds.
Adding or removing a borrower. For example, after a divorce, you’d need to refinance your mortgage to remove your ex-spouse from the loan.
Nerdy Tip
How low should you wait for mortgage rates to drop? One rule of thumb says to wait to refinance until rates are 1% lower than your existing mortgage rate. But these days, even a half percentage point can make a big difference. Use your judgment to make the call that’s best for your budget.
What are FHA refinance closing costs?
With an FHA refinance, you'll pay many of the standard refinance closing costs that you would with any loan type. For example, you'll pay the lender origination fee, an appraisal fee if required, recording fees and so on. These usually run between 2% and 6% of the amount you're refinancing.
When closing on an FHA refinance loan, you'll pay an Upfront Mortgage Insurance Premium (UFMIP) at closing, just as with an FHA purchase. UFMIP costs 1.75% of the total loan amount. If you refinanced to a $200,000 loan, you'd pay $3,500 in UFMIP. (If your original FHA mortgage is less than three years old, you may get a partial refund for the UFMIP on your new FHA loan when you refinance.)
Can you refinance to get rid of FHA mortgage insurance?
For most borrowers, the only way to eliminate FHA mortgage insurance is to refinance from an FHA loan into a conventional loan. If you have an FHA loan, you're going to pay FHA mortgage insurance premiums (MIP) for 11 years or for the life of the loan, depending on the size of your original down payment.
In order to go from FHA to conventional, you'll need to be able to meet the qualification standards for a conventional loan. That means having a credit score of at least 620 — though a higher score could get you a lower interest rate — and a debt-to-income ratio no greater than 45%. You'll also need to have at least 20% equity in your home if you want to avoid having to pay private mortgage insurance, which is required on conventional loans if the homeowner has insufficient equity.
Learn more about FHA loans: