FHA Loan Rates
July 05, 2008

30 Yr. Fixed
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No Points
Low Interest
Best APR

15 Yr. Fixed
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No Points
Low Interest
Best APR

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Remember, the FHA does not make home loans. They insure the FHA loans that we can assist you in getting.

FHA.com is a private mortgage company specializing in fha home loans and is not associated with the federal government or HUD / FHA.

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FHA LOAN TYPES

FHA Refinance
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FHA Secure
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FHA Reverse
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FHA Loan (fixed rate)
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Energy Efficient Loan
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Growing Equity Mortgage
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FHA Condo Loans
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Graduated Payment Mortgage

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FHA Facts | FHA Loan Types | Down Payment Grants

FHA Refinance Loan

Unexpected expenses and expenses for which we did not carefully plan are a fact of life. At FHA.com, we know these expenses will occur and we can help you find a way to get the extra money you need through an FHA mortgage refinance.

When you work with a lender to refinance your FHA mortgage, what you are essentially doing is repaying the current real estate debt on your property by taking out a new mortgage on that same property. This is called a Cash Out Refinance. This refinance option allows you as the homeowner to access the equity you have built up in your home and put it to good use where needed, like for those unexpected expense.

CASH OUT REFINANCE
This refinancing option is especially beneficial to homeowners whose property has increased in market value since the home was purchased. A Cash Out Refinance allows homeowners to refinance their existing mortgage by taking out another mortgage for more than they currently owe, therefore repaying their current mortgage and using the equity they have built up in their home to take out another larger mortgage.

In order to get the most benefit from refinancing your mortgage, it is often best to consider refinancing after you have had time to build up a significant amount of equity in your home. If the property was purchased more than one year prior to the refinance, the homeowner can refinance the existing mortgage for up to 85 percent of the appraised value plus the allowable closing costs, which vary from state to state. If you've only recently purchased your home and have been using it as your residence for less than one year, you can still benefit from a Cash Out Refinance. However, a different set of calculations will apply.

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