FHA refinance loans and the FHA streamline refinance allow borrowers to reduce the interest rate on their current mortgages. Refinancing your home loan involves the same process and work as you put into your first mortgage.

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March 23, 2018
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FHA Refinance

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FHA Loan Refinance

Homeowners enjoy the benefits of investing in their property year after year. For some, there comes a time when that investment can come in handy. Refinancing with an FHA loan can prove to be an effective way to put that equity to work. Keep in mind that FHA refinancing is only available to homeowners who are currently using their home as their principal residence.

This refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly and oftentimes without an appraisal. FHA Streamlined Refinance also cuts down on the amount of paperwork that must be completed by your lender saving you valuable time and money.

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.

The FHA Simple Refinance allows homeowners to go from their current FHA Loan into a new one, whether it's a fixed-rate loan or an ARM. This refinance is the most straightforward, and there is no option for cash-out.Lenders will require a credit qualification, income, and assets to ensure the borrower meets the loan requirements.

Many buyers decide to purchase a home that is significantly older, and not in the best condition. The FHA 203(k) Rehabilitation Loan enables borrowers to finance the purchase or refinance of a home, along with its renovation or "rehabilitation" of their existing home.

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FHA Loan Articles and Mortgage News

FHA Limited 203(k) Rehab Loans for Smaller Projects

March 23, 2018 - The FHA 203(k) rehab loan program offers new purchasers and those who wish to refinance existing mortgages and make upgrades or improvements in the process. But not all borrowers have a need to refinance the entire mortgage loan to make their upgrades-is there a smaller version of this rehab loan available?

FHA Home Loan Options To Consider: Refi and Reverse Mortgages

March 16, 2018 - FHA home loan options you should consider aren’t just for those seeking their first home, a starter home, or first condo unit. FHA mortgage loans are available for many steps in a borrower’s home ownership journey. Do you know what your FHA home loan options are aside from buying a new home in the suburbs?

FHA Rehab Loan Rules for Contractors

March 14, 2018 - FHA rehab loans have specific rules for using contractors and for situations where the borrower wants to do her own work. Rehab loans are complex and can requires escrow accounts, consultants, and hiring outside contractors.

FHA Loan Down Payments and Their Sources

March 12, 2018 - If you are wondering about FHA loan down payments and the rules that govern their sources, you aren’t alone. Down payment rules can seem a bit confusing on the surface, but if you remember a few basic FHA loan rules, this is an area you can understand quickly.

FHA Loan Rules for Income From Family-Owned Businesses

March 9, 2018 - FHA loan rules require the lender to verify the borrower’s employment and income. This verification process can have different requirements depending on the nature of the applicant’s job.  There are also different rules for the employees of family-owned businesses given that some family employees are not owners.

FHA New Construction Home Loans: One-Time Close

March 5, 2018 - The FHA One-Time Close Construction Mortgage allows a borrower to apply once and have a single closing date for a house built from the ground up-a great option to consider for those who don’t want to purchase already lived-in property.

Student Loan Debt Can Affect Your FHA Loan

March 1, 2018 - The student loan issue is an important one and many first time home buyers applying for FHA mortgage loans want to know how much of an impact their education debt will have on their ability to borrow. Student loans, whether or not they are in deferment status, can affect that debt ratio.

FHA Loan Applications and Debt Ratios

February 26, 2018 - When you apply for an FHA mortgage loan, your lender is required to make sure you can afford the loan and your current amount of monthly debt. The loan officer will be required to calculate the amount of your financial obligations, compare it to your current income, and determine of the ratio is within an acceptable range for home loan approval.

How Your Credit Report Affects FHA Loan Approval

February 20, 2018 - No matter what kind of major line of credit you need to apply for, credit history counts. Some mistakenly focus only on their FICO scores, thinking that the score is all you need to be approved. But those FICO score numbers only tell part of the story.

How to Use an FHA Home Loan

February 15, 2018 - There are many things you can do with an FHA mortgage, and just as many ways to use FHA refinance loans; buying a home with more than one living unit, refinancing an existing loan to do rehab work, and including energy-efficient upgrades into your new mortgage.

FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!