How do you refinance an FHA loan?

Because you get a new mortgage when you refinance, the process is similar to getting a mortgage when you buy a home. Start an application or contact us so we can learn about your goals and your existing mortgage. If refinancing looks right for you, we’ll walk you through your options. You’ll start the process of getting your mortgage. You may need an appraisal and will likely need to provide some documents. Closing your loan for a refinance can be less complicated than buying a home. You may not need any cash at closing because costs are often rolled into the new loan. And many of our clients close from their own home using a computer and smartphone.

Who qualifies to refinance an FHA loan?

For refinancing an FHA to another FHA loan, you could qualify at Rocket Mortgage if your details are close to these general guidelines. Note that guidelines can differ between FHA loan types (like jumbo), and for refinancing to a different kind of loan. 580 credit or better unless you’re taking cash out. If you’re not using the cash for debt consolidation, the minimum credit is 620. Less than half of your pre-tax income goes to pay debt. You’ve had the FHA loan you want to refinance long enough – generally 6-12 months depending on the kind of refinance. If you have any late mortgage payments in the last year, you may not qualify. As always, the best way to find out if you qualify is to talk to us or apply, because everyone’s situation is unique.

What are the types of refinancing options for FHA loans?

Rocket Mortgage offers a variety of loans for refinancing your home. When you apply to refinance, a Home Loan Expert will help figure out which one is best for your situation. Some of your options include: Refinancing your FHA loan to another FHA loan. Refinancing your FHA loan to a different kind of loan. An FHA Streamline for people who already have an FHA loan and want to just change their loan length or interest rate.

FHA refinance rates

Explore Rocket Mortgage® FHA loan rates for refinancing a home. If you want better than a general idea of rates, we can help find the right option at the best rate for you.

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Purchase rates

Refinance rates

Monthly payment examples below are for a loan amount of $275k. Taxes and insurance not included within the estimate; actual payment amount will be greater.

30-year FHA

Rate

5.625%

APR

6.487%

Monthly payment$1,697

Points

2 ($5,500)

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25-year FHA

Rate

5.625%

APR

6.585%

Monthly payment$1,823

Points

2 ($5,500)

Estimate my rate Learn about FHA loans

20-year FHA

Rate

5.75%

APR

6.805%

Monthly payment$2,044

Points

1.625 ($4,469)

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15-year FHA

Rate

5.125%

APR

6.046%

Monthly payment$2,227

Points

1.75 ($4,813)

Estimate my rate Learn about FHA loans

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Rates are current as of 2:06 AM UTC on June 11, 2026. Refinancing may cause finance charges to be higher over the life of the loan.

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What factors determine your FHA refinance rate?

FHA interest rates are affected by a variety of things. Some you can influence; others you can’t. Let’s review a few.

Credit score

A higher credit score predicts it’s more likely a loan will be paid back. That means you’re considered a lower risk and may get a lower interest rate.

Debt-to-income ratio (DTI)

When less of your income goes toward debt, the more you have to pay your mortgage. So a lower DTI can also mean a lower interest rate, because the risk you can’t pay is lower.

Market conditions

The Federal Reserve (the central bank of the U.S.), inflation and the housing market all affect refinance rates for FHA mortgages.

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Pros and cons of an FHA refinance

Pros

Take cash out. You can refinance from or to an FHA loan and use your home’s equity to take cash out.

Pay your mortgage off sooner. If you want to be mortgage-free faster, you can refinance your FHA loan to a shorter term.

Lower your monthly payment. You can refinance an FHA loan to lengthen your term, which is a way to lower your mortgage payment.

Cons

There are costs for getting a new mortgage. Just like when you bought your home, you pay fees and closing costs when refinancing, around 3-6% of the loan amount.

Your monthly payment will increase if you’re refinancing to take cash out, because your loan amount will increase.

You’ll still have to pay mortgage insurance premiums if you’re refinancing an FHA loan and getting another FHA loan.

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FHA loan refinance rates frequently asked questions

Don’t see your question here? We love helping people understand how rates work and what yours could be. Just talk to us.

Because you get a new mortgage when you refinance, the process is similar to getting a mortgage when you buy a home.

Start an application or contact us so we can learn about your goals and your existing mortgage.

If refinancing looks right for you, we’ll walk you through your options.

You’ll start the process of getting your mortgage.

You may need an appraisal and will likely need to provide some documents.

Closing your loan for a refinance can be less complicated than buying a home. You may not need any cash at closing because costs are often rolled into the new loan. And many of our clients close from their own home using a computer and smartphone.

For refinancing an FHA to another FHA loan, you could qualify at Rocket Mortgage if your details are close to these general guidelines. Note that guidelines can differ between FHA loan types (like jumbo), and for refinancing to a different kind of loan.

580 credit or better unless you’re taking cash out. If you’re not using the cash for debt consolidation, the minimum credit is 620.

Less than half of your pre-tax income goes to pay debt.

You’ve had the FHA loan you want to refinance long enough – generally 6-12 months depending on the kind of refinance.

If you have any late mortgage payments in the last year, you may not qualify. As always, the best way to find out if you qualify is to talk to us or apply, because everyone’s situation is unique.

Like many things about mortgages, it depends. There are different rules and requirements for when you can refinance from an FHA to another FHA loan, and from an FHA loan to a different kind of loan. Very generally, you may be able to refinance in 6-12 months after getting your FHA loan. If you’re wondering what’s right for you, talk to us.

That’s exactly what our Home Loan Experts help you figure out when you apply to refinance. They’ll ask about your goals, look at your current mortgage and see what makes sense financially for you.

Rocket Mortgage offers a variety of loans for refinancing your home. When you apply to refinance, a Home Loan Expert will help figure out which one is best for your situation. Some of your options include:

Refinancing your FHA loan to another FHA loan.

Refinancing your FHA loan to a different kind of loan.

An FHA Streamline for people who already have an FHA loan and want to just change their loan length or interest rate.

Refinancing a mortgage has fees and costs very similar to getting a mortgage when you buy a home. These can range from 3-6% of the loan amount. This is true for FHA loans as well with an exception: an FHA Streamline can have lower costs.