FHA Loans - FHA Refinance Programs
FHA Loans refinancing programs are the backbone of the nations refinancing programs. In the last 7 years the national share of FHA Loans has gone from 2% to over 33%. Of this 33%, a large portion of these loans are FHA Refinances. When the mortgage crisis hit in 2007, conventional lending dried up and it was the FHA Refinancing Programs that helped home owners from further credit crunches.
Here are some FHA Refinancing Programs and their advantages over Conventional lending:
- Up to 85% cash out Refinancing for FHA Loans
- Cash-Out up to 85% of your appraised real estate value
- Debt Consolidation- consolidate all your debt and loans into one simple mortgage
- Lower credit scores accepted
- Lower income requirements
- Government regulated closing fee
- Fixed Rate and Term Refinancing at a max of 96.5% of
your homes appraised value.
- Debt Consolidation- consolidate all your debt and loans into one simple mortgage
- Minimum credit score of just 620
- Industry leading rates for individuals with a bankruptcy, more than two years old
- Industry leading rates for individuals with a foreclosure, more than three years old
- Lower credit scores accepted
- Lower income requirements
- Government regulated closing fees
- The FHA Streamline Refinance is only for current FHA
loan holders.
- Zero out of pocket (IRRL) Interest Rate Reductions Loan
- No credit or income statements needed
- No cost mortgage refinancing option
- Switch an adjustable to fixed rate or vice versa
- Shorten or increase the length of your current mortgage
- FHA Secure Refinance with current mortgage rates
- Mortgage refinancing available to those with credit problems due to adjusting loan payments.
- Even those that are currently in foreclosure can qualify for refinancing
Learn more about the different types of FHA Loan Programs available for your specific mortgage refinancing needs. If you have any questions please Contact Us and let us further handle your FHA loan needs.
