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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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December 17, 2017
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FHA Refinance

Learn About Your Mortgage Options

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.


FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
Are There Income Requirements for an FHA Mortgage?

November 30, 2017 - Are there income requirements for an FHA mortgage? Some applicants may be worried about earning too much money to qualify for a loan they mistakenly believe are intended only for a certain income bracket.

FHA 203(h) Rehab Loans for Federal Disaster Areas

November 9, 2017 - In the wake of 2017 natural disasters like Hurricane Irma and Hurricane Harvey, the Department of Housing and Urban Development has published this year’s FEMA-listed federal disaster areas, which become eligible for a variety of relief measures once that designation is made for an affected area.

Minimum FHA Loan Property Requirements: Location Matters

November 6, 2017 - What are the minimum property requirements for a home to be purchased with an FHA mortgage? The ability to purchase your dream home with an FHA mortgage is determined by a borrower’s FICO scores and credit history, debt to income ratio, employment, and other financial qualifications.

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.

How Soon Can I Cash-out Refinance an FHA Loan?

June 27, 2017 - FHA cash-out refinance loans let the borrower take out equity in the property in cash. According to page 409 of the FHA handbook, one of the first questions you’ll be asked involves how you are currently using the property to be refinanced.

Unpaid Federal Debts and Your FHA Loan Application

June 16, 2017 - Does it hurt a borrower’s chances when applying for an FHA mortgage loan if there’s a debt owed to the federal government? Can unpaid federal taxes become a barrier to an FHA mortgage loan? The FHA recognizes two types of circumstances–tax debt and non-tax debt.

FHA Refinance Loan Options: Lower Rates and Fixed Rate Loans

April 22, 2017 - Some kinds of FHA refinance options are intended for borrowers with existing FHA mortgages, but those with non-FHA mortgages have FHA refinance help waiting, too. What does it mean to refinance your existing home loan? 

What You Should Know About Obama Loan Modification

April 1, 2017 - Making Home Affordable is the government homeowner bailout program designed to help nine million Americans avoid financial trouble because of the troubled housing market. There are two aspects to the Obama Mortgage: refinancing and loan modification.

FHA Loan Rules for Documenting Commission Income

March 28, 2017 - FHA mortgage rules require the lender to verify the borrower’s income and employment, and some borrowers come to the loan process with unique circumstances such as commission income.

The FHA Loan Appraisal Process

February 20, 2017 - When you want to purchase a house with an FHA loan, the appraisal process is a vital part of the transaction; it’s impossible to buy a home with an FHA mortgage unless there has been an appraisal on the property to determine the fair market value of the home.