FHA Rate Guide Review

BySarah BadaniJul.15, 2021
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In a Nutshell

FHA Rate Guide provides information and guidance about current mortgage rates. It has hundreds of partner lenders to help you find a suitable loan and asks careful and detailed questions about your income, debt, personal circumstances, and more to make sure that they suggest the most appropriate loan for your needs.


  • Connections with hundreds of lenders
  • Detailed questionnaire for a fitting match


  • No help in applying for mortgage loans
  • No information about lender fees

FHA Rate Guide at a Glance

Loan types:Refinance, home purchase
Featured Loans:FHA, VA, conventional
Repayment terms:Fixed-rate 10-40 year terms, variable-rate ARM 1-7 year terms
Minimum Down Payment:None specified
Minimum Credit Score:    None specified
Suitable for:Homeowners looking to refinance and take out equity

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FHA Rate Guide isn’t a direct lender. Instead of laying out all the features and types of mortgages on offer, FHA Rate Guide asks you about your mortgage needs, then emails you eligible loans that fit your circumstances. FHA Rate Guide doesn’t help you to complete your loan application or negotiate better mortgage rates; it simply sends you information about potential mortgage products.

  • FHA loans
  • VA loans
  • Fixed-rate loans with terms up to 40 years
  • ARM variable rate loans with terms up to 10 years
  • ARM variable I/O loans with terms up to 7 years

Suitable For?

FHA Rate Guide is ideal for homeowners who need to borrow money against their home at the same time as refinancing, and want to see as many options as possible. FHA Rate Guide has a longer than usual set of application questions, including your income, the type and value of your property, and the size of your down payment or amount that remains on your mortgage. FHA Rate Guide invites you to borrow extra cash against the property when you take a mortgage or refinancing loan.

Types of Loans

FHA Rate Guide isn't a direct lender. Instead, it helps to match users with mortgage products from hundreds of top mortgage lending companies and sites in the US. Because it covers so many lenders, it has fixed-rate loans, variable rate ARM and I/O loans, FHA loans, and VA loans too. The repayment terms span all the way from a 1-year variable ARM loan to a 40-year fixed-rate loan, so all your options are open.

Unfortunately, FHA Rate Guide doesn't share very much information about the different types of loans. It's not clear if there's any maximum loan amount, minimum credit score, or minimum down payment involved. If your financial circumstances aren't good enough, FHA Rate Guide just won't match you with any loans, and your search ends here. It's up to you to investigate the details of each suggested loan with the direct lender.

  • No minimum credit score
  • No maximum loan amount
  • No minimum down payment
  • Huge range of APRs
  • Fixed-rate loan terms from 10 to 40 years
  • Variable-rate ARM loan terms from 1 to 10 years
  • Variable-rate ARM I/O loan terms from 3 to 7 years
  • VA loans
  • FHA loans for first-time buyers

The Application Process

Applying for mortgage loan information through FHA Rate Guide is simple and easy. The website will guide you through a series of questions about the type and value of the property you want to buy, the size of your down payment or the amount remaining on your mortgage, how much additional cash you want to borrow, your credit score and credit history, whether you're a member or previous member of the US military, and questions about your mortgage loan preferences.

Once you’ve worked your way through the form, you’ll submit your name, phone number, and email address in order to get the results. FHA Rate Guide sends information about all of the mortgage loans that you’re eligible for to your email address. However, it frequently announces that it wasn’t able to match you, without giving any reasons. There’s no alternative way to get quotes.

Once you get your mortgage loan match results, you’re on your own. FHA Rate Guide doesn’t get involved in your mortgage loan application, negotiations, or give any advice about paying fees.

Pros and Cons

FHA Rate Guide’s biggest strength is the huge number of partner lenders it has, which easily number over 200. With so many lenders, it has the ability to find a mortgage loan for your specific financial circumstances. In order to help it make good suggestions, FHA Rate Guide asks a number of questions about your property, financial history, credit history, and mortgage preferences.

However, FHA Rate Guide doesn’t go beyond matching you to an eligible loan. You won’t find any information about lender fees or conditions. You have to investigate each loan yourself, compare it with other possibilities, and go through the application process. FHA Rate Guide doesn’t have any tools for comparing mortgage loans, either—you’ll have to make the calculations yourself.

Rates and Fees – The Bare Basics

FHA Rate Guide only sends you APR rates by email once you’ve shared all your details, so there’s no way to discover interest rates without asking for a personal quote. You’ll have to follow up each loan with the direct lender in order to discover any extra fees like prepayment penalties, origination fees, or late payment fees, although you can rest assured that FHA Rate Guide doesn’t charge anything for the service.

Repayment Terms

Because FHA Rate Guide has so many lenders, the repayment terms cover a very wide range. Fixed-rate loans come with terms of 10, 15, 20, 30, or 40 years. Variable-rate ARM mortgages have terms of 1, 3, 5, 7, or 10 years, while variable-rate ARM I/O mortgages have terms of 3, 5 and 7 years.

Help & Support

FHA Rate Guide can be contacted through an online web form - there's no email address or phone number. There are also no online resources like FAQs or trouble-shooting support, and no information about how long it takes for a representative to respond to your questions.

How FHA Rate Guide Compares

FHA Rate GuideQuicken LoansNKBC Bank
Credit requirementNone specified580-620+620+
Minimum down paymentNone specified1%-10%3.5% for FHA mortgages, 5% for conventional mortgages
DTI ratioNone specified50%$675 or less
Loan feesNone specifiedDeposit fee: $400-$750Not specified
Suitable forRefinancing Online government loansGreat customer service


In theory, FHA Rate Guide is a useful and easy to use website that helps borrowers narrow down their mortgage loan options. It has hundreds of partner lenders and asks multiple questions in order to suggest the most appropriate loan for your circumstances. But in practice, FHA Rate Guide frequently fails to suggest any qualifying loans. Even when it does, it offers no help at all with the rest of the process and leaves it to the borrower to investigate all fees, credit requirements, down payment, and penalties set by the direct lenders.

  • Fixed and variable rate loans
  • VA and FHA loans
  • Hundreds of partner lenders
  • Easy to use questionnaire


Q: How do I find my mortgage loan offers?

A: They’ll be sent straight to your email account.

Q: Can I compare fixed and variable rate mortgages? A: Yes, FHA Rate Guide provides information about both fixed and variable rate loans.

Q: Do you have a mortgage calculator to help me work out how much my loan will cost?

A: No, you’ll need to find one online elsewhere.

Q: Do you charge any fees for your service?

A: No, FHA Rate Guide is a completely free service, but your chosen lender might charge fees and penalties, so make sure to check the fine print. 

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AboutFHA Rate Guide
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