FHA Rate Guide Review - Mortgage Loans

Application & Approval Process
Rates & Fees
Payment Terms
Customer Support & Benefits

About FHA Rate Guide

Owned by LeadPoint Inc, a modern lead marketplace, FHA Rate Guide is an online comparison tool for those looking to buy their first home through mortgage backed by the federal housing administration. The company has partnered with hundreds of lenders to help you find and compare some of the best FHA loan deals. Simply by visiting their website, you will be redirected to a basic questionnaire that has a total of 15 questions relating to the property you wish to buy and the type of loan you are looking for. A smart algorithm assesses your answers and the end result is multiple offers from applicable lenders, saving users time, money and effort looking for the right mortgage. 





  • Low credit score requirements
  • Specializes in Federal Housing Administration loans
  • Easy online process
  • Extensive list of lenders


  • Not a direct or indirect lender
  • Limited customer service

Key Highlights

  • The minimum credit score varies across lenders.
  • Down payment varies, typically ranging between 3% and 10%.
  • Has Equal Housing Lenders available on the platform.
  • Offers fixed and adjustable rates.
  • Offers purchase and refinance loans.
  • Best for first-time homebuyers.

Application & Approval Process


FHA Rate Guide is an online lending marketplace that matches homebuyers with mortgage companies and provides users with multiple quotes according to their profile, to compare and get the best deal. It cuts down on the lengthy process of applying individually to every loan provider by giving users multiple options from applicable lenders through a single application. The online form is a series of 15 questions related to the property and loan and as you complete it, you will be asked for a quick credit score review through a third-party. This is simply a soft pull and will not impact your credit score. 

Afterward, the questionnaire is forwarded to the lenders and takes around 3 to 4 minutes for interested loan providers to send in their offers, directly via email with the proposed rates and loan terms.

Do note that you must be at least 18 years old and have the legal authority to agree.


From this step onwards, everything is done through the lender’s website as FHA Rate Guide does not issue loans or mortgages. As you receive offers from various lenders, you can compare them against each other to narrow down your search for the right mortgage to a single preferred loan provider. 

You are not obligated to accept any offer, however if you do, you are required to complete the loan application with the lender. Every lender has a set of requirements and will often need the following information:

Personal Information

  • Name
  • Phone number
  • Email address
  • Date of birth
  • Address
  • Marital status
  • Children status


  • Level of education

Housing information

  • Location of the property
  • Estimated purchase price
  • Estimated down payment


  • Employment type
  • Employer details


  • Gross annual income
  • Other sources of income
  • Available assets
  • Monthly non-mortgage debt payments


This is the final step of the loan process. During this stage, a hard credit pull is conducted to assess your financial capacity. The lender might also need a property appraisal to determine its value and you will be notified before the visit. 

Closing the loan will require you to upload documents such as pay stubs, bank statements, tax returns and more on the lender’s website, or hand it in via postage or in-person, depending on the loan provider. These documents are to verify your income, employment and financial situation. After confirmation, you need to sign off the loan papers in person or electronically. As you officially close the loan, your lender will ensure the release of funds.

Rates & Fees

FHA Rate Guide is a free service; therefore it does not charge users with any fees. However, they do receive a commission from the loan provider if the user closes a loan with them through their platform. There are third-party fees involved when buying or refinancing a house regardless of whichever lender you choose such as:

  • Appraisal fees
  • Home inspection fees
  • Document preparation fees
  • Title fees
  • State taxes
  • Application fees
  • Attorney’s fees
  • Prepaid interest
  • Assumption fees

FHA Rate Guide have lenders that offer fixed and variable rates; but these are determined by your profile, credit score, type of loan, and the area where you reside. The mortgage rates do fluctuate according to market conditions, but expect to see APRs around 3.88% for purchase and 3.9% for refinancing a 30-year fixed FHA mortgage (current market APR as of April 2020). 

Payment Terms

Since FHA Rate Guide does not issue any loans or mortgages, the payment term differs across the lenders on their platform i.e. LendPlus Mortgages provides loan terms of 15 and 30 years. A typical mortgage term can go up to 30 years, however there are companies on the platform that offer 10, 15, 20- and 25-year terms. If you have the financial capacity to pay higher monthly installments, we suggest looking for loans with a short-term period. However, if you are not in a good financial situation and can only make smaller monthly payments, then we suggest looking for a long-term period loan.

Customer Support & Benefits

If you have any complaints or feedback, you can reach out to FHA Rate Guide through their online contact form which requires details such as your full name, contact number, email address, and your message. A customer service representative or an agent will reach out to you as soon as possible. Since FHA Rate Guide will not be servicing your loan, it is important to conduct additional research into the benefits and customer service provided by the lender you wish to opt for. 

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