Georgia Mortgage Rates Update
FHA Home Refinancing & ARM Conversion

FHA mortgage refinancing helps people convert their adjustable rate mortgages into fixed rate payments that they can afford. Georgia homeowners consider refinancing offers with low fixed rate offers for FHA home loans including cash out to 95%.

Home Refinancing Options with FHA Loans By David Chodack Property values have been dropping across the country. Georgia mortgage rates are on the upswing and adjustable rate mortgages are coming due. Residents in Atlanta, Murrieta, Savannah -- all across the state -- have very few refinance options as home equities and bad credit scores take a nosedive. Local lending programs and fixed rate loans are going the way of dollar-a-gallon gas. And tighter mortgage guidelines have put the squeeze on even credit worthy customers. To make matters worse, 100% refinancing options are becoming scarcer than bird feathers in a koo-koo-clock. Georgia Home Refinancing for Bad Credit Cash Out Refinance Loans to 95% Foreclosure Bail Out Loans to 70% Foreclosure Refinancing to 70%

Cash out with fixed rate mortgage refinancing up to 95% CLTV!

So what's a God-fearing Georgian to do? Subprime mortgage lenders are going out of business and the secondary loan market has dried up. The solution lies in FHA's variety of Home Refinancing Options. For starters, there's the FHA Secure program, which is designed to help homeowners who have fallen behind on their house payments due to an escalating adjustable rate mortgage. Homeowners will need to prove that their late payments were due to the sudden interest rate hike in their original loan.

Then there's FHA's Cash Out Refinancing option. It's ideal for homeowners whose property has jumped in market value since the home was bought. A Cash Out refinance lets owners refinance their existing mortgage by taking out another mortgage for more than they currently owe. Basically, they use the equity they've built up in their home to take out another larger mortgage.

Refinance Adjustable Rate Home Loans and Consolidate Credit Card Debt for More Savings!

Preferred Loan Type Select ---------------> Mortgage Refinance Cash Out Refinance Home Equity New Home Purchase Property Type Select One-----------> Single-Family Detached Condominium Cooperative Multi-Family Dwelling Modular Mobile Home Manufactured Home Property Value Select One-----------> 1st Time Buyer 75,000 - 80,000 80,000 - 85,000 85,000 - 90,000 90,000 - 95,000 95,000 - 100,000 100,000 - 105,000 105,000 - 110,000 110,000 - 115,000 115,000 - 120,000 120,000 - 125,000 125,000 - 130,000 130,000 - 135,000 135,000 - 140,000 140,000 - 145,000 145,000 - 150,000 150,000 - 155,000 155,000 - 160,000 160,000 - 165,000 165,000 - 170,000 170,000 - 175,000 175,000 - 180,000 180,000 - 185,000 185,000 - 190,000 190,000 - 195,000 195,000 - 200,000 200,000 - 205,000 205,000 - 210,000 210,000 - 215,000 215,000 - 220,000 220,000 - 225,000 225,000 - 230,000 230,000 - 235,000 235,000 - 240,000 240,000 - 245,000 245,000 - 250,000 250,000 - 255,000 255,000 - 260,000 260,000 - 265,000 265,000 - 270,000 270,000 - 275,000 275,000 - 280,000 280,000 - 285,000 285,000 - 290,000 290,000 - 295,000 295,000 - 300,000 300,000 - 305,000 305,000 - 310,000 310,000 - 315,000 315,000 - 320,000 320,000 - 325,000 325,000 - 330,000 330,000 - 335,000 335,000 - 340,000 340,000 - 345,000 345,000 - 350,000 350,000 - 355,000 355,000 - 360,000 360,000 - 365,000 365,000 - 370,000 370,000 - 375,000 375,000 - 380,000 380,000 - 385,000 385,000 - 390,000 390,000 - 395,000 395,000 - 400,000 400,000 - 405,000 405,000 - 410,000 410,000 - 415,000 415,000 - 420,000 420,000 - 425,000 425,000 - 430,000 430,000 - 435,000 435,000 - 440,000 440,000 - 445,000 445,000 - 450,000 450,000 - 455,000 455,000 - 460,000 460,000 - 465,000 465,000 - 470,000 470,000 - 475,000 475,000 - 480,000 480,000 - 485,000 485,000 - 490,000 490,000 - 495,000 495,000 - 500,000 500,000 - 505,000 505,000 - 510,000 510,000 - 515,000 515,000 - 520,000 520,000 - 525,000 525,000 - 530,000 530,000 - 535,000 535,000 - 540,000 540,000 - 545,000 545,000 - 550,000 550,000 - 555,000 555,000 - 560,000 560,000 - 565,000 565,000 - 570,000 570,000 - 575,000 575,000 - 580,000 580,000 - 585,000 585,000 - 590,000 590,000 - 595,000 595,000 - 600,000 600,000 - 605,000 605,000 - 610,000 610,000 - 615,000 615,000 - 620,000 620,000 - 625,000 625,000 - 630,000 630,000 - 635,000 635,000 - 640,000 640,000 - 645,000 645,000 - 650,000 650,000 - 655,000 655,000 - 660,000 660,000 - 665,000 665,000 - 670,000 670,000 - 675,000 675,000 - 680,000 680,000 - 685,000 685,000 - 690,000 690,000 - 695,000 695,000 - 700,000 700,000 - 705,000 705,000 - 710,000 710,000 - 715,000 715,000 - 720,000 720,000 - 725,000 725,000 - 730,000 730,000 - 735,000 735,000 - 740,000 740,000 - 745,000 745,000 - 750,000 750,000 - 755,000 755,000 - 760,000 760,000 - 765,000 765,000 - 770,000 770,000 - 775,000 775,000 - 780,000 780,000 - 785,000 785,000 - 790,000 790,000 - 795,000 795,000 - 800,000 Over 800,000 Credit Rating Select ---------------> Excellent Good Fair Poor

There's also FHA's (and VA's) Streamlined Refinancing option. They call it streamlined because it lets borrowers reduce the interest rate on their current home loan quickly and often without an appraisal. This option also cuts down on the paperwork lenders need to complete, which saves time and money. To qualify for a Streamlined Refinance a borrower's original home loan must be an FHA or VA loan in good standing and the refinance must lower their monthly interest payments. The upside of this option is that it lowers their payments (in the case of VA, many of the normal closing costs are waived); the downside is there's no option to receive cash back. So it's okay for folks who are in good financial shape with no big debts because it gives them a little more to invest or spend on other things they need.

One caveat: to get the most out of refinancing a mortgage, one should only think about refinancing after they've had time to build up some sizeable equity in their home. If the property was purchased more than one year ago, borrowers can refinance their existing mortgage for up to 85 percent of the appraised value plus allowable closing costs. Regardless of which option they choose, borrowers should take care. As Mark Twain once advised, "There are two times in a man's life when he should not speculate: when he can't afford it, and when he can."