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FHA Mortgage Loans for Refinancing

Nationwide Mortgage Loans strongly suggests that homeowners that need cash out to take advantage of low FHA mortgage rates that recently dropped to record levels. Now homeowners can finance additional cash with 95% FHA refinance loans. Ask your FHA lender or broker to lock you into a thirty-year fixed mortgage loan that features interest rates below 5%.  FHA mortgages are government loans that require less equity and underwriting guidelines are more forgiving for credit scores as well.

Watch Mortgage Loan Video with Bryan Dornan Examining FHA Cash Out Opportunities in 2009

FHA 2009 Update- HUD now requires two full URAR appraisals from licensed FHA approved appraisers for all cash out refinancing that exceeds 85% Loan-to Value.  FHA continues to cap the cash out mortgage loans at 95% Loan-to-Value.  Check the 2009 FHA loan limits and see where the caps are for loan amounts in your region. Check with FHA mortgage loans online for maximum loan amounts that were recently updated by the Housing of Urban Development (HUD).

Don’t be surprised if your FHA home loan takes longer in process than previous refinancing did. FHA refinance loans continue to dominate the home refinancing spectrum, because FHA insures these mortgage loans and helps minimize the loss mortgage companies could have if the borrowers foreclosed. Most lending companies are reporting that FHA underwriters are more critical than usual when evaluating your credit and expect the appraisal review process to take a few extra days. FHA mortgage lenders continue to take extra precautions in an effort to minimize home loan defaults. Most brokers and lenders still have a bad taste in their mouth from the subprime lending debacle of 2006 and the foreclosure crisis that started in 2007. 

Nationwide continues to provide discounted FHA mortgage loans with opportunities for homeowners to qualify for cash out as well. We can help you refinance so that you can finance home remodeling and bill consolidation.  Visit us online at Nationwide Mortgage Loans and to learn more about the FHA home loan program guidelines, go to and we appreciate the opportunity to earn your refinance business.  If you do not qualify for traditional FHA mortgage refinancing, consider Hope for Homeowners or a mortgage loan modification that extends loan relief and rate reductions to borrowers with bad credit and/or no equity.

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