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Many people use refinancing, and an FHA refinance can give you the same benefits as other loans. You can use the FHA refinance to lower your monthly payment, and pay less interest. Some people refinance to convert a 30 year FHA mortgage to just 15 years.

FHA Rates Near 50 Year Low!

Now is the time to drop the interest rate on your 30-year mortgage or refinance into a 15-year home loan.

FHA Rates for March 31, 2020
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FHA.com is a privately owned website, is not a government agency, and does not make loans.

Are There Advantages of FHA Refinancing?

FHA Common Question #30

Refinancing your FHA home is a big decision, but one that can yield profitable results if handled correctly. Many people use refinancing, and an FHA refinance can give you the same benefits as other loans. You can use the FHA refinance to lower your monthly payment, and pay less interest. Some people use the FHA refinance to convert a thirty-year FHA mortgage to a fifteen-year mortgage! This can build equity in your home faster than taking the thirty-year route.

Remember that an FHA streamline refinance-where the paperwork is reduced in order to speed the process-requires that you take out no cash on the mortgage, and the amount should be current and not delinquent. If you qualify for an FHA streamline refinancing package, you could be well on your way to higher equity and lower payments.

NEXT:  Can FHA Help Get Cash for Home Equity?

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FHA Loan Articles and Mortgage News

Did The Fed Cut Mortgage Loan Interest Rates?

March 16, 2020 - It’s easy to assume that a rate cut automatically equals a lower mortgage loan interest rate. But that is far from accurate and what the Fed did in cutting interest rates down to the zero range does NOT automatically translate into a lower home loan interest rate for you.

FHA Mortgage Rates Hit Unprecedented Lows

March 15, 2020 - There are times when mortgage rates are low, and there are times when rates fall so very low that even those in the lending industry contemplate their refinance loan options. Now is one of those times. It's a milestone well worth paying attention to.

Mortgage Rates And World Headlines: The Correction?

March 12, 2020 - At the time of this writing, in the second week of March 2020, mortgage loan interest rates have taken a sharp turn upwards after hitting lows not seen in recent memory. FHA mortgage loan interest rates were, for a time, below the three percent zone.

Refinance Loans Surge in Popularity

March 10, 2020 - Finance blogs and mortgage rate watchers report that the week ending March 6 saw a massive surge in refinance loan applications; refinancing is at a rate not seen in well over a decade. Low mortgage rates coming as a result of investor reactions to coronavirus news.

Mortgage Loan Interest Rates at Eight Year Lows?

March 9, 2020 - The last week of February 2020 was a remarkable one for mortgage loan interest rates. Much has been made of the economic effects of the virus that causes coronavirus disease, also known as COVID-19 or SARS-CoV-2, according to the Centers For Disease Control.