Quantcast

The FHA does allow refinancing on an FHA loan. There are some FHA loan requirements, as always. Your FHA lender can tell you more about the refinancing process and what you will need to move forward with refinancing.

FHA Mortgage Loan Rates

June 23, 2017
FHA Rates for June 23, 2017
Offering 30 Year Fixed Mortgages
Offering 15 Year Fixed Mortgages
Use our mortgage calculators
to see what you can afford!
FHA.com is a private company, is not a government agency, and does not make loans.

Prequalify Now!

Compare mortgage rates for your refinance or home purchase loan.

CHOOSE A LOAN TYPE

then
get
your

FREE CREDIT SCORE

Do you know what's on
your credit report?
The Path to Homeownership
FHA.com is a private company, is not a government agency, and does not make loans.

What About Refinancing an FHA Loan?

FHA Common Question #29

Good news! The FHA does allow refinancing on an FHA loan. There are some FHA loan requirements, as always. These include FHA guidelines on the reasons for the refinancing, which must result in lower interest payments and principal on the FHA loan. Additionally, you are not allowed to take out cash on mortgages using the FHA's "streamline refinancing" process.

Remember that any amount to be refinanced must already be insured by the FHA in order to qualify. As part of the streamline process, lenders are permitted to include the closing costs into the new mortgage, as long as there is enough equity in the property. An appraisal may be required in order to properly determine the amount of equity on your home.

Your FHA lender can tell you more about the refinancing process and what you will need to move forward with refinancing.

NEXT:  Are There Advantages of FHA Refinancing?

FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
When the Seller Wants to Help Pay Your FHA Closing Costs

June 12, 2017 - FHA loan rules in the FHA Handbook limit the contributions of an interested party, who may be the seller or any other person or party who wants to contribute to closing costs. These contributions are limited to a maximum of six percent of the sale price of the home.

Are FHA Loans Allowed When One Family Member Buys a Home From Another?

May 29, 2017 - FHA loan rules have special requirements for home loan transactions that may be termed “identity of interest”. These transactions, which are sometimes allowed, are between parties with an existing business relationship or between family members.

Is it Possible to Apply for Another FHA Mortgage?

May 22, 2017 - Some borrowers experience some confusion over the rules for FHA loans in cases where a homeowner wants to think about applying for an FHA mortgage to buy a second home. What are the FHA loan rules that apply in such circumstances? 

Verifying Alimony and/or Child Support for FHA Loans

May 16, 2017 - The FHA Loan Handbook states that a borrower may use alimony/child support income to qualify for an FHA home loan if it can be verified and meets FHA requirements. How does your FHA lender may consider alimony and child support as part of a borrower’s effective income? 

How FICO Scores Affect Your FHA Home Loan

May 12, 2017 - The FHA Handbook instructs lenders that a borrower is technically qualified for maximum financing  at the required minimum 3.5% down payment when the applicant has a FICO score at 580 or higher.