🏠 Daily Mortgage Rates LIVE 10/27/25: FHA Loans for Homebuyers

 Welcome to Daily Mortgage Rates LIVE! Today we’re exploring conventional loans—a top choice for many. Learn how they differ from government-backed options, what credit and down-payment expectations are, the pros & cons, and current rate trends. 

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Check out all episodes of Daily Mortgage Rates LIVE at https://themortgagecalculator.com/Page/Daily-Mortgage-Rates-LIVE-Video-Podcast

The Mortgage Calculator
Licensed Mortgage Lender NMLS #2377459 for Conventional, FHA, VA, USDA and Non-QM mortgage programs

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The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages...

Transcript

So it looks like we're about live on all the different platforms here so we can go ahead and get started. So thanks everyone for joining us.

My name is Nick Hiersche. I'm the president of the mortgage calculator. We are a lender that specializes in obviously all kinds of different loans. Today we're gonna talk about FHA loans but we have non q m loans, commercial loans, fix and flip loans, all kinds of different loan products that we offer and we'll go over a few specific examples for today. So let me go ahead and switch my screen up here, and we'll actually check out today's five rates.

Now that it is just after noon eastern, all of our standard programs should be live here. Alright. So first up here, always our standard programs are thirty year fixed conventional primary. We're using here for all of our examples oops. Sorry.

I accidentally clicked into it. Using here for all of our examples, $500,000 purchase price, $300,000 loan amount, 760 FICO and 40% debt to income ratio. That way we can pull up examples for every single program across the board. So this might not be your standard program, that you might use for conventional, but this allows us to compare all the different rates evenly across the board. So our standard conventional for primary home coming in as low as 5.75 rate today, final APR there is a 6.02 if you can't quite see it.

And for FHA, our topic for today, we'll get into some specific examples, but we have options down to 5.125 as the lowest rate today. And the final APR coming in at 6.039 for that example. And for our eligible veterans, and other veteran surviving spouses in some cases. We have our VA loans. Rates as low as 5.25 today, and finally, if you are coming in at 5.5 there, definitely a great benefit for all of our vets there.

And we'll scroll down to our next row. We also offer USDA for properties that are in USDA eligible areas. Definitely take a look if you are looking in those areas at these programs, and they're coming in today quite a bit lower than some of the other options, which is great. Coming in at 5% rate flat and the final APR coming in there at 5.663 with all of the different fees involved in USDA. And getting into some of our unique options here at the mortgage calculator, we love to offer all kinds of unique scenarios especially our non QM options.

So we have our non QM optoc primary. That would typically mean a full doc loan using different underwriting guidelines. We can go a little bit higher on the DTI. But many times, our borrowers are looking to use alternative documents such as bank statements, ten ninety nines, asset related programs. We have all kinds of different options in order to qualify for these programs.

We could even get very similar rates here to conventional. See here, our conventional is coming in at 5.75 and our non QM is coming in at 5.875 with a final APR of 6.45. And which is to an investment property. We have our non QM options for investment properties here, coming in sorry. I keep asking if we can.

Coming in at 6% rate today, final APR 6.321. So an amazing option to use alternative docs for our investment properties. And we scroll down a little more. We see our conventional options, our Fannie and Freddie options here coming in at the same 6% rate, with fees slightly less there coming in a final APR 6.311. So conventional still just a tad cheaper.

There are some additional fees with our non QMs coming in at 6.321, just a touch more there. And now one of our favorite programs, my personal favorite from all my investment properties is the SCR program. No income or employment needed. We simply use the estimated rental income from the property in order to offer this loan program. This has a standard three year prepayment which is pretty much our standard option here, coming in today for thirty year fixed option at 5.875 rate.

Finally, PR is 6.193 and we can add a five year prepayment on there usually a touch cheaper. You see here it's actually coming in at the same rate, 5.875, but the APRs a touch cheaper there. So the price is a little bit cheaper when we add that five year prepay. Finally, PR comes in there at 6.145. And a few more options we can go over before we get into our specific FHA loan examples today.

We also offer DSCR options with no prepayment penalty. You see the rates just a touch higher there coming in at 6% today. Our LIPR comes in at 6.321 for that no prepayment penalty option. And we also have our non QM fixed rate second mortgages. So these are very popular now as pretty much all homeowners in The United States have record equity in their homes.

And with the first mortgage rate sometimes being higher than what their current first mortgage is, some of our customers still need to tap into their equity and that's when we can use our second mortgages. Traditionally, a HELOC was the only option, but these are typically preferred with a little bit lower rate options here. So we can do our second mortgage home even using alternative docs, banks, etcetera. Coming in today, seven point seven five to get some cash out of your home without touching that first mortgage. And I finally appear on the net 8.082 for this example.

And we can even do that on our investment properties. So our thirty year fixed second mortgage here using bank statements, etcetera. You can have a DSCR option as well coming in at 8.75 for those investment properties. Finally, PR comes in at 9.147 there. And we have a few more options that we won't get into today, our forty year options, our commercial options.

I would definitely please check out our website for all those different programs. We would love to send you a quote. But let's switch into our specific example for today. So we always wanna go into a specific program and in this case, even a specific property. So I pulled up an example property here.

My area, there wasn't a lot of options for a home that would work for an FHA loan demo. So I actually chose this one which is a duplex if you can see here. So it's actually two unit homes. So this would allow our customer to purchase this property, live in hopefully the the larger, the more preferred side of the home and then get some rental income from the other side. But of course, what they wish to do is up to them.

But for this example, it would allow us to use an FHA program and still qualify using these programs because FHA does have loan limits. So we go into our first example here, actual live rate code I just did to prepare for this demo. We are using our FHA loan program to purchase a two unit property using our standard 3.5% down to the minimum down payment there for our FHA loan programs. And this would allow us to live in one unit and even utilize that rental income from the other unit to qualify. So this is an amazing and we'll see here, we have options, just as we went out of our down to 5.125 with the lowest rate option.

And you can see there, the cost point two two six discount points and bring that all the way up to 5.75 rate. Allows us for a little bit of lender credit here, a point one zero one lender credit. Options in between. So our customers can obviously pick the that works best for them. You see here we have a demo here and even pulls in the property taxes and Zestimate to give our customer a great breakdown of the full loan scenario.

Now the other option would be for our borrowers here in this case, which is unique and a very great use of our FHA loan programs. We can even assistance with most of our FHA loan options. So this is actually our same same property you just saw using that down, using our DPA program, that means down payment assistance, which allow our borrower to get that 3.5% down payment using this program. This is repayable. That is typically the options with the lowest rate and cost.

But of course, there are options for even non repayable, where if the loan for a certain amount of time, it is forgiven. Non forgivable. So this option allows us to purchase that same home, use that rental income, and even add a deep to get that down payment. So this is absolute borrowers that do qualify and wanna utilize that FHA loan program specifically for low down payment or no down payment in this case, for a two unit property, especially for our, house hacker investors out there. Definitely very popular topic these days.

So you see here, obviously, higher rates. So 7.125 rate comes in for our first mortgage there and at is at a cost of point two. Now we can scroll down here. Just wanna obviously, you can check out the whole loan scenario. It's every but keep in mind that that second payable.

So you're going to get that 27,000 from that second mortgage, and the rate on that is 2% higher than the first. So since that first was a 7.125, we would be paying a 9.125 payment on this option. So those are the to break that down. It's kinda set up as a HELOC here, but it's not actually a HELOC. But you get the point there.

Mortgage will have a little bit of a payment. And I didn't quote the unforgivable option, but they are out there. Please reach out to our team if you have any questions or wanna get your own loan scenario. So let me go bring back up the main page here. Now if there's any questions, feel free to drop them in the chat.

I'll definitely always try to address those questions. But today, definitely a great day for rates. Recommend everybody get out there, go shopping, update your list there, you can update your approvals. All of our loan officers are available to update your preapprovals. Some of the latest rates here that you just saw there, and, of course, we offer all the different loan programs as well.

So I don't see any questions at the moment. Again, feel free to reach out to anyone on our team, and we'd be happy to help you out. So thanks everyone for joining us for Daily Lyrics Live, and good luck out there on your home shopping experience.