Bad Credit Mortgage Refinancing

FHA allows bad credit refinancing for borrowers with a good mortgage payment history and reliable income qualifications. FHA loans were created to help more people become homeowners. These loans have maintained competitive interest rates and are great for refinancing whether you have good or bad credit. If you do not have a lot of equity or have a low credit score, the FHA refinance is the best possible loan. Borrowers with challenged credit should consider our bad credit refinance options with flexible FHA credit guidelines. Home equity loan to value, debt to income ratio and credit scores are the three most important factors to qualify for a bad credit mortgage refinance insured by FHA.

FHA Loan Refinance Programs for Borrowers with All Types of Credit

Times have changed and programs for bad credit mortgage refinancing are extremely difficult to find. When borrowers do uncover a program for bad credit refinancing, then usually they run into obstacles like not having enough equity or minimum credit scores that are too high. Make the most of government financing opportunities with FHA mortgage loans that help first time home buyers, distressed homeowners and borrowers with good and bad credit looking to refinance and save money!

If you have been late on your credit card bill or had credit problems in the past, the FHA recommends a joining a Consumer Credit Counseling option rather than filing bankruptcy. Maintaining a good payment history for your mortgage loans is essential for FHA qualifications. Bad credit refinancing is not always an easy process with traditional lenders, but the FHA Home Loan Refinancing Company has been assisting consumers with less than perfect credit for almost a decade.

FHA Allows Refinancing with Bad Credit

Homeowners with bad credit and adjustable rate loans can benefit from an FHA refinance loan and save with a 30 year fixed rate mortgage. FHA Guidelines are more flexible with credit than conventional programs, but FHA rates are just as low.

HUD recommends creating a satisfactory payment history for at least twelve months before applying for any FHA home loan program. FHA allows bad credit refinancing for borrowers with a good mortgage payment history and reliable income qualifications. FHA refinance loans are subject to HUD guidelines and FHA underwriting.

Subprime mortgage loans usually have low teaser rates with high interest rates that adjust quickly. If you aren't paying attention to the rates, you may find yourself behind on your mortgage payments. The mortgage rates for FHA refinance loans are secure and the pricing is comparable to conventional Fannie Mae mortgage rates.

Rate & Term Refinance with FHA Mortgage
Chapter 13 Bankruptcy Refinance Loans
FHA Mortgage after 7 or 11 Bankruptcy Discharge

Because of plummeting home values and high adjustable rates, many consumers are inquiring about the FHA refinance options that are offered to homeowners who were never late prior to their mortgage adjusting.

Ask your loan officer about the new Emergency Homeowner Loan Program.