FHA Home Refinance Loans in Washington

FHA refinance loans have become popular with Washington borrowers refinancing into a lower fixed rate loan, regardless of credit scores. Nationwide has extended FHA mortgage refinacing specials to Washington homeowners seeking fixed interest rate solutions. With these new FHA loans borrowers can get cash out when refinancing for consolidating high rate ARMS, credit card debts and even finance new home improvements. Nationwide has been helping borrowers with bad credit in the Pacific North-West with mortgage refinancing for almost a decade.

Washington Mortgage Rates Update: Home Refinance Loan with FHA

Adjustable rate mortgages are coming due and residents in the state have very few refinance solutions. The rise in mortgage rates have residents in Seattle, Spokane, Tacoma, Vancouver, Bellevue, Everett, Federal Way, Kent, Yakima, Bellingham and other areas in Washington scrambling for a solution.

Washington FHA Mortgage Limits for Rise for Refinancing

MSA Name

County Name

State

One-Family

Two-Family

Three-Family

Four-Family

KENNEWICK-RICHLAND-PASCO , WA

BENTON

WA

$275,000

$352,050

$425,550

$528,850

KENNEWICK-RICHLAND-PASCO , WA

FRANKLIN

WA

$275,000

$352,050

$425,550

$528,850

ELLENSBURG , WA

KITTITAS

WA

$328,750

$420,850

$508,700

$632,200

YAKIMA , WA

YAKIMA

WA

$271,050

$347,000

$419,400

$521,250

MOUNT VERNON-ANACORTES , WA

SKAGIT

WA

$373,750

$478,450

$578,350

$718,750

SPOKANE , WA

SPOKANE

WA

$271,050

$347,000

$419,400

$521,250

BELLINGHAM , WA

WHATCOM

WA

$375,000

$480,050

$580,300

$721,150

WALLA WALLA, WA

WALLA WALLA

WA

$271,050

$347,000

$419,400

$521,250

BREMERTON-SILVERDALE , WA

KITSAP

WA

$475,000

$608,100

$735,050

$913,450

OLYMPIA , WA

THURSTON

WA

$361,250

$462,450

$559,000

$694,700

NON-METRO

SAN JUAN

WA

$593,750

$760,100

$918,800

$1,141,850

NON-METRO

JEFFERSON

WA

$437,500

$560,050

$677,000

$841,350

PORT ANGELES , WA

CLALLAM

WA

$383,750

$491,250

$593,800

$738,000

SEATTLE-BELLEVUE-EVERETT , WA

KING

WA

$567,500

$726,500

$878,150

$1,091,350

SEATTLE-BELLEVUE-EVERETT , WA

SNOHOMISH

WA

$567,500

$726,500

$878,150

$1,091,350

TACOMA , WA

PIERCE

WA

$567,500

$726,500

$878,150

$1,091,350

WENATCHEE , WA

CHELAN

WA

$323,750

$414,450

$500,950

$622,600

WENATCHEE , WA

DOUGLAS

WA

$323,750

$414,450

$500,950

$622,600

OAK HARBOR , WA

ISLAND

WA

$381,250

$488,050

$589,950

$733,150

SHELTON , WA

MASON

WA

$310,000

$396,850

$479,700

$596,150

PORTLAND-VANCOUVER-BEAVERTON , OR -WA

CLARK

WA

$418,750

$536,050

$648,000

$805,300

PORTLAND-VANCOUVER-BEAVERTON , OR -WA

SKAMANIA

WA

$418,750

$536,050

$648,000

$805,300

PULLMAN , WA

WHITMAN

WA

$271,050

$347,000

$419,400

$521,250

Washington mortgage refinancing options of any sort have run thin, and subprime mortgage lenders going out of business have not helped. Bad credit loans are pretty much nonexistent, leaving those bad credit scores wondering how long they will be able to keep their homes. Washington homeowners are trying to find refinancing solutions for their adjustable rate mortgage payments.

Mortgage industry problems include loss of home equity, loss of local lending programs and tighter mortgage guidelines, leaving very few 100% refinancing options. Property values have been dropping across the country, and decreasing property values may limit your ability in the future. But, fixed rate refinance loans are critical while you have value. So, where do you turn for bad credit loans and other home refinancing options, especially since there's no secondary market?

According to a Google News Article at WTOL 11 entitled "Voinovich introduced bill to ease foreclosure crisis", U.S. Senator George V. Voinovich (R-OH) introduced Wednesday the Expanding American Home ownership Act of 2007, which will enable The Federal Housing Administration (FHA) to help those facing foreclosure to refinance for lower rates while helping millions of more low- and moderate-income families to buy a first home.

The plan already enacted to help those facing foreclosure is President Bush's FHA Secure, a program which helps families with strong credit histories who had been making timely mortgage payments before their loans reset-but are now in default-to qualify for 30 year fixed rate refinancing. The problem with this plan is that it doesn't help those with bad credit scores, the majority of the people who have these adjustable mortgages that are getting ready to reset.

However, for those with blemished credit, the FHA does have other programs for which they may qualify. And, if you're active duty military or a military veteran, you may want to check with the Veterans Administration (VA). The VA, like FHA has less much stringent qualification criteria than do conventional lenders.

According to mortgage-x.com, Washington mortgage rates are still pretty reasonable, ranging from 4.875% for a Conforming 6 month ARM to 6.125% for a Jumbo 20 year fixed-rate mortgage (FRM). With FHA's and VA's competitive rates and excellent loan terms, now is the time to refinance your adjustable rate mortgage before your loan resets. Talk with a qualified lender today to see what your options are.

  • Refinance with a Fixed Rate

  • 125% Home Equity Loans

  • Jumbo Home Loans to 100%

  • Debt Consolidation Loans

  • FHA Cash Out Refinancing

  • Option ARM Home Refinance

Washington residents can take advantage of monthly loan specials that are offered exclusively to homeowners residing in the Pacific North-West. Ask your home equity specialist about state specific guidelines and APR restrictions. Mortgages rates that can vary depending upon credit score, state, loan amount and combined loan to value.

 

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More Related Washington Pages:
Debt Consolidation Washington | Washington Mortgage Refinance | Washington Home Equity Rates | Washington Second Mortgage | State Guide Second Mortgages | State Guide Home Equity
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