FHA mortgage Loans have gained in popularity for home purchasers across America. The down payment requirement is still 3.5% and we at BNC Bank allow for expanded debt to income ratios up to 59% with compensating factors such as excellent credit scores, cash reserves, etc. The seller is allowed to pay up to 6% closing costs currently. The upfront mortgage insurance premium is 1% on all FHA mortgage loans and can be financed while the monthly FHA MIP is 1.0% to 1.5%

Our FHA mortgage rates are lower than our conventional rates and we are a HUD endorsed Direct FHA approved lender/Bank. Today's FHA rate is at 4.25% 30 year fixed up to the FHA loan limit which varies by county. Some counties in "high cost" areas allow FHA loans up to $729,750. You can check the maximum loan limit for your county at https://entp.hud.gov/idapp/html/hicostlook.cfm

Compare FHA mortgage rates from Bank of America, Wells Fargo, SunTrust, and BNC National Bank at http://www.mychartermtg.com/current-fha-rates.html