FHA interest rates tend to be a little below market average. However, mortgage insurance has to be factored in. FHA loans come with annual mortgage insurance equal to 0.85% of the loan amount. So if current FHA rates were 3.5%, for example, you'd actually be paying 4.35% annually. u003cbr/u003eu003cbr/u003eYour own FHA loan rate depends on your application. A higher credit score, sizeable income, and bigger down payment can all net you a lower interest rate. Plus, rates vary by lender. You'll have to u003ca rel=u0022noreferrer noopeneru0022 aria-label=u0022compare more than one FHA lender (opens in a new tab)u0022 href=u0022https://themortgagereports.com/ratequote#loan-purposeu0022 target=u0022_blanku0022u003eu003cstrongu003ecompare more than one FHA lenderu003c/strongu003eu003c/au003e to find your lowest rate.