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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 Mortgage Loan Rates

August 21, 2017
FHA Rates for August 21, 2017
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Offering 15 Year Fixed Mortgages
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FHA.com is a private company, 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?

FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
Can FHA Closing Costs Be Financed?

August 1, 2017 - Some of your FHA loan closing costs may be financed, and some may - after being negotiated between buyer and seller - be paid by the seller within the boundaries of the FHA loan program's rules. The borrower can also pay some closing costs out of pocket.

FHA Streamline Loan Requirements

July 22, 2017 - FHA Streamline loans can help homeowners lower monthly mortgage payments and interest rates. But what do you need to qualify for an FHA Streamline loan? To begin, you need an existing FHA mortgage to refinance.

FHA Loan Rules: 203(K) Rehab Mortgage Loans

July 19, 2017 - The 203(K) Rehab loan is the FHA's primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities.

The FHA Loan for Single Family Mortgages

July 15, 2017 - The FHA 203(b) loan insurance program is for people who want a single-family. For these FHA guaranteed loans, lenders offer loan terms at 15 or 30 years. The FHA does not set interest rates for these loans, instead they are negotiated between the borrower and lender.

FHA Loan Rules For Second Home Purchases

July 12, 2017 - FHA loan rules for the single-family loan program are designed for owner-occupiers, but depending on circumstances a borrower may be approved by a participating lender to buy another home--usually in response to a pragmatic need like a larger family or job requirements.