Refinance Into an FHA Loan
Choose an FHA refinance for a lower, fixed rate.
 Why
FHA and not a Conventional Refinance?
Whether you're looking to fix an adjustable rate mortgage
or simply lower your interest rates and monthly payments,
refinancing into the FHA loan program may be your best bet.
That's because the government insured FHA loan program
offers better interest rates, lower down payments, easier
qualification standards, and more protection to keep your
home. Closing costs can be added to the FHA loan itself
allowing you to avoid out of pocket costs as well.
Options for FHA refinancing:
There are many options available to borrowers refinancing
their mortgage into an FHA loan:
Cash Out Refinancing: A cash out FHA refinance
allows you to refinance and gain access to the equity you
have built up in you home. Whether you want to consolidate
bills, take a vacation, or send a child to college, cash out
refinancing with an FHA loan will allow you to put the
equity in your home to work for you.
How it works -- You take out an FHA loan for more
than you currently owe on your mortgage. This pays off your
current mortgage, provides you with a lower interest rate
for your new mortgage, and allows you to access the equity
built up in your home as cash. If you purchased the
residence more than one year prior to the refinance, up to
85% of the appraisal value can be refinanced with the new
FHA loan. It is possible to avoid out of pocket closing
costs by refinancing those as well into the FHA loan.
No Cash Out Refinancing: With a no cash out
refinance, you're simply able to refinance into a lower,
fixed interest rate with a new FHA loan. In this case, you
may refinance up to 97.75% of the appraisal value.
203(K) Rehabilitation Loan: If you own a home you
want to re-model or repair, an FHA 203(K) Rehabilitation
Loan allows you to refinance what you owe and add the cost
of repairs all into one loan.
Energy Efficient Mortgage: An FHA energy efficient
mortgage allows you to refinance to new lower rates, while
including the costs of energy saving improvements in the
loan. These energy saving improvements add value to your
home and save you money on utility bills. This is a great
way to make home improvements but pay for them over the life
of your loan!
More Benefits of Refinancing into an FHA Loan.
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FHA refinancing is available to homeowners regardless
of credit score.
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FHA mortgages are fixed rates - your payments will not
increase
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Future refinances are fast and easy with the FHA
Streamline Refinance
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FHA refinance offers lower interest rates and monthly
payments
Take the first step... apply now!
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What Clients Say
"Kept me informed every step of the way."
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FHA for a FIXED Rate
One of the many benefits of an FHA refinance
is that it guarantees you a fixed interest rate.
That means your payments will never increase.
Say hello to FHA, and say goodbye to adjustable
interest rates that bump up payments without
warning. |
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