Bad Credit Mortgage Refinancing

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 loan is the best possible loan.

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.

Homeowners with bad credit and adjustable rate loans can
refinance & save with a 30 year fixed mortgage.

The FHA 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 mortgages are easy to qualify for because bad credit scores are tolerated with compensating factors. Very little equity is required to refinance, so even if you lost equity from their home there is an opportunity to refinance.

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FHA Refinancing & Debt Consolidation

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
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FHA Mortgage after 7 or 11 Bankruptcy Discharge

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

FHA Loan Blog - Read, Comment and Post Questions about Home Buying and Loan Refinancing.