What are todays FHA loan rates?

As of March 2026, FHA 30-year fixed rates start at 5.750% and FHA 15-year fixed rates start at 5.500%.

Are FHA rates lower than conventional?

Yes. FHA rates are typically 0.25-0.50% lower than conventional rates due to the FHA guaranty reducing lender risk.

Which loan type has the lowest rate?

VA loans have the lowest rates, followed by FHA, then conventional.

Can Valley West compare all three?

Yes. One application, 50+ lenders, all three loan types compared.

VA vs FHA vs Conventional — Full Comparison 2026

FULL COMPARISON

Head-to-Head: All 3 Loan Types

FHA

Conventional

Down Payment

3.5%

5-20%

Credit Score

580+

620+

PMI/MIP

None ever

Life of loan

Until 20%

30-Year Rate

5.625%

5.750%

5.990%

Max DTI

60%

57%

50%

Loan Limits

None*

$532,900

$766,550

Seller Concessions

3-9%

Who Qualifies

Veterans

Anyone

Best For

Veterans

Low credit/down

720+ credit

*VA has no loan limit with full entitlement. Rates as of April 2026. NMLS #65506.

SCENARIOS

Which Loan Wins for Your Situation?

VA WINS IF...

You are a veteran or active-duty
You want $0 down payment
You want zero monthly PMI
You want the lowest possible rate
You are buying any price home

Check VA eligibility →

FHA WINS IF...

You are NOT a veteran
Your credit is under 700
You have limited savings (3.5%)
You need flexible DTI (up to 57%)
You are buying under $532,900

Check FHA requirements →

CONVENTIONAL WINS IF...

Your credit is 720+
You have 10-20%+ down
You want PMI to drop at 20%
You are buying a 2nd home/investment
You want no upfront MIP

Check conventional rates →

RATES

Today's Rates All 3 Types

VA 30-Yr

5.625%

$0 down · $0 PMI

FHA 30-Yr

5.750%

3.5% down · MIP

Conv 30-Yr

5.990%

5%+ down · PMI

Get Your Rate for All 3 →

Updated April 8, 2026. 740 FICO, $400K loan. NMLS #65506.

FAQ

Questions? Answered.

VA loans consistently have the lowest rates because they carry a government guarantee. FHA is next, typically 0.125% higher. Conventional rates are highest but have no permanent mortgage insurance.

Yes. As an independent broker, Valley West shops VA, FHA, and conventional across 50+ lenders. One application, three comparisons. We recommend whichever saves you the most money.

VA is almost always better for veterans: $0 down, no PMI, lower rates. The only rare exception is if you have used your VA entitlement on another property and need a second loan — FHA may work as a backup.

VA saves the most ($66,000+ over conventional). Conventional beats FHA long-term due to PMI dropping at 20%. FHA wins years 1-7, then conventional pulls ahead. The smart FHA play: buy with FHA, refinance to conventional at 20% equity.

No. Apply once and Valley West compares all loan types you qualify for. We show you the monthly payment, total cost, and savings for each option side by side.