FHA Refinance Loans
Government FHA Loan Refinancing

FHA refinance programs provide low rate opportunities with FHA loan programs for cash out, FHA streamline, rate and term and home rehabilitation. FHA refinance mortgage guarantee a fixed mortgage rate and no pre-payment penalty when refinancing or selling the property.

FHA Streamline - Refinance FHA with streamline loans that automate the refinancing process for FHA borrowers. FHA rates are low but FHA streamline is a rate and term refinance product that allows no cash back and requires homeowners already have an FHA loan in first position.

Cash Out FHA - Borrowers with good and bad credit can refinance and get cash back from 80-95% depending on lending factors like debt ratio, credit and loan to value. FHA refinance mortgage opportunities continue to expand as Obama announced the HAMP program will offer FHA modification plans that include principal rate reductions.

FHA refinance loans help traditional and bad credit borrowers find prime mortgage rates with fixed and affordable payments with the security of an FHA mortgage. Homeowners across the country have been hit hard by the recent subprime mortgage recession that has significantly limited thousands of homeowners from refinancing their adjustable rate mortgages.

According to mortgage executive Andrew Firoved, "FHA mortgage rates are fixed, low and make sense for homeowners who may lost their equity in this housing crisis." The Bush administration has worked collectively with the Federal Housing Administration (FHA) to come up with home refinancing solutions that will help prevent the anticipated foreclosures predicted by the home financing economists.

FHA home refinance loans help bad credit borrowers find a mortgage with a fixed rate and affordable payments. In a recent unannounced speech Bush announced a plan to assist homeowners who are struggling to make their home mortgage payments. Bush conveyed a financing agenda that did not include "bailing out subprime mortgage lenders that took on too much risk and are presently suffering because many of these borrowers cannot make their payments on time. Unfortunately many of these homeowners are months behind and these new FHA refinance loans may be too late to prevent the foreclosure looming.

FHA Streamline Refinance loans give existing FHA customers the opportunity to refinance for a lower interest rate if market conditions improve and provide mortgage rates that would yield lower monthly payments. Streamline refinancing is not an option if you are an FHA customer who needs to receive cash back in the loan. The FHA Streamline is strictly for rate and term refinancing. For more details, please visit FHA Streamline Refinance Loans and get additional information for product related data needed for qualification.

FHA Home Refinancing Updates

FHA Home Mortgages offer 30-year fixed interest rate terms.

FHA refinancing offers competitive interest rates for homeowners looking to refinance into a low fixed loan. FHA refinance loans offer high LTV options for homeowners who have very little options. Borrowers can refinance up to 97% rate and term or 95% for loans with cash back. (Fico scores are not a factor, but consistent mortgage history is essential for FHA approval).

The FHA Secure mortgage was released in 2007 to help troubled borrowers get back on course. In 2009 we learned that very few homeowners qualified for the FHA secure refinance. Homeowners continue to suffer financially because their adjustable rate mortgage is beginning to rise. Unfortunately many of these people are unable to qualify for a conventional or subprime refinance loan. Hope for Homeowners and the government’s FHA refinance loan offer homeowners another chance to refinance into an affordable fixed rate mortgage.


FHA refinance loans are offered to homeowners with bad credit scores who merit competitive interest rates to refinance their variable rate mortgage.

  • Cash Out Refinance
  • Low Rate FHA Refinancing
  • Consolidation of High Rate Credit Card Debt
  • Low Rate FHA Refinance Loans

Consider the FHA option for cash out refinancing, as interest rates have become more affordable again.

FHA Home Refinancing Updates

Eligible properties are 1-4 unit homes. For more FHA guidelines please go to www.hud.gov. As most lenders know, the FHA loan product changes frequently, so it is imperative to be reading the most updated mortgage loan data.

In a recent report, the Department of Housing and Urban Development stated that FHA mortgage loans with fixed rates cost borrowers less than nonprime and hard money loans offered by conventional mortgage lenders. FHA refinance mortgages feature competitive mortgage rates and our Federal government continues to insure these types of home loans against payment defaults.

FHA allows cash out refinancing up to 85% Loan-to-Value. Rate and term refinancing is still available 96.5% LTV. FHA mortgage refinance loans continue to be a popular choice for homeowners with no equity and borrowers with a poor credit rating. With the Federal Reserve promoting quantitative easing record low interest rates and relaxed guidelines make the FHA refinance loan programs very attractive.


New Home Refinancing Programs initiated by the FHA may help thousands of homeowners refinance out of their costly adjustable rate mortgages.

FHA Mortgage Refinance Options Extend Credit Relief to Borrowers with No Equity!

As loan payment defaults and foreclosures continue to mount in what continues to be a national issue, Congress claims to be determined to solve the subprime lending crisis. The House and Senate have both supported FHA mortgage enhancements, but they buried it in a poorly written mortgage bill. 80% of the bill is revolutionary and will immediately help thousands of homeowners who are suffering from escalating mortgage payments with increasing adjustable rates. The other 20% of the bill focuses on mortgage broker restrictions that will give an unfair advantage to lenders and banks who are exempt from the lending provisions.

We can all agree that the pending FHA Modernization Act will help many homeowners with their cash flow. The new FHA mortgage products will also enable thousands of homeowners to consolidate their high rate credit card debt while they refinance their mortgage into a fixed interest rate. Many of these borrowers have been held hostage because of tightening loan guidelines and deflated property values. The FHA home refinance loans will help thousands of more homeowners when the FHA lending provisions finally get passed, because the FHA home loan limits will be expanded to $417,000 throughout most of the United States. State like California, Florida, Virginia and New Jersey could even see loan limits raised above $500,000 in the high cost areas. Unfortunately until our politicians stop bickering and pushing their agendas the bill will be at a stand-still and more and more Americans will lose their home in foreclosures.

Don't wait any longer, Apply now for an affordable FHA loan that ensures a lower monthly payment and saving you can use elsewhere in life. Nationwide connects you with lenders that provide helpful financial consultation that includes free FHA refinance quotes with no obligation.

 

Resource Tools

ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or variable rate home equity line of credit? Learn how to calculate FHA rates for home refinancing. How much money can you save with an FHA refinance?

How to Refinance a Mortgage


Read Industry News and
Helpful Financing Articles

Find more FHA loan articles:
FHA Talk: Streamline Versus Rate and Term Refinancing

FHA Home Mortgage Loans for People with Bad Credit

FHA Mortgages for People with Bad Credit

5 Reasons First Time Home Buyers Like FHA Loans
Additional Refinancing Pages:
Refinancing after a Bankruptcy | Second Mortgage Refinance | Adjustable Rate Refinance | Mortgage Refinance Options | 100% Mortgage Refinancing | Bad Credit Refinance | Cash Out Refinance | Refinance Guidelines | Rate and Term Refinancing | FHA Secure Refinancing | Loan Refinance | Home Affordable Refinance Program | Underwater Mortgage | Money Mortgage Refinance | Home Refinance Programs | Second Chance Mortgage | FHA Mortgage Refinance
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