FHA Loans- FHA Secure Loan Program
FHA Secure Loan Program was created on August 31, 2007 with the purpose of helping home owners threatened by mortgage foreclosure caused in part to their sub-prime loans adjusting.
FHA Secure Loans can help you if any of the below situation is something you are facing:
- Overdue on your mortgage payments
- Your mortgage has defaulted due in part to interest rate increases
- Little or no equity left in their property
Many people find themselves in one of more of the situations mentioned above. The FHA Secure loan program has already helped millions save their homes from foreclosure. Don’t let your property go into foreclosure. Even if other lenders can’t help…we can!
Homeowners must meet these criteria to qualify for the FHA Secure loan program:
- Between 2005 and 2009 your mortgage interest rate adjusted
- You either need to have 3% in cash or 3% of equity available of your property
- You are current with your payments and have no late fees
- Continued employment for a minimum of the past two years
- You need to display the ability to make the new FHA Loan payment
Your new FHA refinance program will require you to maintain an escrow account for insurance and property taxes. In most cases you will also have mortgage insurance premium due.
Like all other FHA loans, the FHA Secure refinance program won’t have pre-payment penalties. If you feel that you meet the aforementioned qualifications, please Contact Us for more information or just take a minute and fill out the no obligation FHA loan request.
