FHA Cash-Out Refinance Mortgages
Sometimes It Pays to Refinance
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.
FHA Loan Articles and Mortgage News
Read About FHA Requirements, Updates, and Guidelines
FHA Loan Maximum Amounts for 2017
Are you looking for a home to purchase with an FHA mortgage? Issues new to some first-time borrowers include FHA loan limits, and the maximum loan amount you can apply for. FHA home loans feature a maximum loan amount, which may vary.
Making Home Affordable Options for Obama Mortgages
The government program sometimes known as the Obama Mortgage is called Making Home Affordable. When going to the Making Home Affordable official site, you will find a variety of options designed to help depending on your circumstances.
Obama Mortgage Refinancing Options
Some borrowers need Obama mortgage help from the Making Home Affordable (MHA) program because they have fallen behind on their mortgage payments and don’t know what their options might be.
Can Overtime Pay Be Used to Qualify for an FHA Loan?
FHA loan rules require your loan officer to verify your income as part of your FHA loan application. Not all income can qualify to be used towards the calculation of the borrower’s debt-to-income ratio, only that which the lender can determine is reliable.
Common Questions About FHA Reverse Mortgages
The FHA’s version of the reverse mortgage, known as the FHA Home Equity Conversion Mortgage (HECM), is available to qualified borrowers who meet the FHA’s age requirements, occupancy requirements, and more. Reverse mortgages can be a bit more complex than a typical refinance loan.