FHA Home Refinance

FHA loans are making it possible for millions of Americans to refinance their home mortgages to a low fixed rate. FHA lenders don't require you to have a ton of equity in your home or to have perfect credit.

FHA Refinancing - Quick Facts

You can refinance up to 97.75% of your homes appraised value
You can get a low rate around 5.00% fixed
You do not need perfect credit to qualify for a FHA loan
FHA Streamline allows you to refi with no appraisal and reduced documentation
A loan modification can help you reduce you payments with no equity in your home

Refinance to 97.75%

Real estate values are at all time lows and many Americans don't have much equity in their homes. FHA loans allow you to refinance up to 97.75% of your homes value and up to 85% if taking cash out - all at a low fixed rate around 5.00%. If you want to take cash out of the equity you do have your FHA lender will allow you to refinance up to 85% of your homes value at a low fixed rate. Learn more about FHA refinancing...

FHA refinancing and your credit

The goal of the FHA is to provide affordable housing to all Americans. While a private (conventional or non FHA) lender will require almost perfect credit in order to qualify you for their best rates and programs, FHA insured lenders offer the same rates as conventional lenders but make qualifying easier. Many FHA insured lenders only require a credit score in the low 600's and some will even issue a loan with a credit score down to 580. These requirements can very between approved FHA lenders and depend on certain factors like your income and past credit history. It would be wise to consult a FHA approved specialist who can properly assess your situation and see exactly what you qualify for.

FHA Streamline Refinance

Are you in an FHA loan now? If the loan is in good standing you may qualify for an FHA Streamline refinance allowing you to refinance your home mortgage without the need for an appraisal and reduced documentation, in a fraction of the time it would take to do a normal FHA refinance. More about FHA Streamline Programs...

FHA Loan Modifications

If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible. Read More about the Making Home Affordable Loan Modification Programs...

FHA Loan Update

August 2nd, 2011

FHA Loan Requirements

What will you need? Click the link below to read about FHA Loan Requirements, credit and income requirements, FHA lender guidelines and the documents that may be required by your FHA lender....

Using a Mortgage Broker?

As of April 1st, 2011, mortgage originators will no longer be allowed to collect Yield Spread Premium (YSP) - a fee charged by mortgage brokers that is normally paid for by the lender upon closing a purchase or refinance transaction. This can mean higher up front fees for [you] the consumer....

FHA Mortgage Insurance Increase

On February 14, the FHA announced a new premium for FHA single-family mortgages, increasing the annual mortgage insurance premium (MIP) by a quarter of a percentage point (.25) on all 30-year and 15-year loans.

How will this affect you? [click]

For Home Buyers

Everything you need for Buying a Home FHA

FHA loans allow you to buy a home at very affordable terms. With FHA's low down payment requirements, light qualification guidelines and competitive fixed rates, millions of American's have turned to an FHA loan for their home purchase...

More about FHA loans for buying a home

FHA Refinance

Refinancing With a FHA Loan

If you are thinking about a refinance, an FHA refinance might be the solution. FHA loans offer rates just as low as conventional loans and in many cases are easier to qualify for...