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Learn More About Qualifying for Home Refinancing with Bad Credit

In some cases, government mortgages insured by the FHA 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.

FHA Refinancing & Debt Consolidation
FHA Refinancing with Bad Credit

Finding a company that offers mortgages for people with bad credit scores can be frustrating. We understand that you may have endured many refinancing challenges because of your credit scores and that’s why we have hired a staff that has experience helping borrowers with subprime and FHA refinancing.

Lock Your Loan Because FHA MI is Rising - HUD announced that mortgage insurance premiums are set to rise April 1, 2013 on new purchases and refinance transactions. This means that monthly housing costs will be higher for people that choose FHA for a bad credit mortgage refinance.

Alternate Options for Poor Credit Refinancing - If you have poor credit and still do not meet the parameters of FHA refinancing, you may benefit from new mortgages from private sources like the Home Loan Magician that are considered experienced hard money lenders.

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"After being turned down by many lenders, a friend recommended this site. I received a few quotes online from bad credit mortgage lenders that provided alternative refinancing programs but the rates were competitive. I qualified for a bad credit mortgage with a fixed rate. Thank You!"
Jonathon T. San Jose, California.


Bad Credit Mortgage Refinancing with Low Scores Approved with FHA

The new government programs extend bad credit refinancing for borrowers with a good mortgage payment history and reliable income qualifications. The Federal Housing Administration created a loan program that helped more people find a lender for a bad credit mortgage refinance. 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. For approval purposes, 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.

 

Get More info from FHA Loan Experts for
New Options on Bad Credit Refinancing

Bad Credit Refinancing
No Cost and No Obligation to Apply Online

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. Are you looking for mortgage refinance for people with bad credit ratings? Find out from a loan expert whether FHA makes sense for your situation.

Refinance with a 2nd Chance Mortgage Insured by FHA

As home values remain in the toilet, the FHA streamline has really become a savior for underwater borrowers because there is no appraisal required in most cases. When lenders waive the home value evaluations it takes “loan to value” out of the underwriting equation.

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Filling out this form puts you under no obligations. By clicking "Get Started" I am consenting to have my information shared with one to four brokers or lenders and other business partners and for them to contact you (including through auto means; ie. autodialing, text & pre-recorded messaging) via telephone, mobile device and email, even if your telephone number is currently listed on any state, federal or corporate Do Not Call list.

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 for bad credit mortgage refinancing with FHA mortgages that help first time home buyers, distressed homeowners and borrowers with good and bad credit looking to refinance and save money! Borrowers with challenged credit should consider a bad credit refinance loan option with flexible FHA credit requirements for homeowners.!

FHA Allows Refinancing with Bad Credit for Cash Back or Lower Rates

Bad credit refinancing is not always an easy process with traditional lenders, but the FHAHLR Company has been assisting consumers with less than perfect credit for almost a decade. Homeowners with low credit scores and adjustable rate loans can benefit from a bad credit refinance and save with a 30 year fixed rate mortgage that is insured by the Federal Housing Administration. Don't forget that FHA guidelines are more flexible with credit than conventional programs, but interest rates are just as low. Just a few years ago, borrowers were paying a few percentage points higher on rates for a bad credit mortgage refinance. Today there are new opportunities on home refinancing for people with poor credit.

HUD recommends creating a satisfactory payment history for at least twelve months before applying for any FHA home loan program. If you have a fico score of 500 or better, you may be eligible for bad credit refinancing. Homeowners with a good mortgage payment history and reliable income qualifications will have now problem getting approved for a low fixed interest rate with no penalties for refinancing or early pay-off. FHA provides several bad credit mortgage refinance products that are subject to HUD guidelines and FHA underwriting. Attention consumers: Please note that refinancing mortgages with bad credit can take longer to process than conventional loans for people with good credit.

Find Affordable Lower Mortgage Payments
           
       
   

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. In most cases, the FHA mortgage rates on bad credit refinance loans are secure and the pricing is comparable to conventional Fannie Mae rates.

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

 

Consumers in all 50 states are benefitting from the lowest FHA rates of our generation. According to NAR, the 15-year rates fell below 3% for the first time ever and 30-year rates are holding steady at 3.75% (APR 3.89%). Even if you have low fico scores, bad credit mortgage refinancing solutions may still be viable. If your credit scores are above 500, then you are a candidate for a low rate loan insured by the Federal Housing Administration.

 
 

© 2008 to 2013 - FHAHomeLoanRefinancing.com - This is a website and does not guarantee loans online. FHAHomeloanRefinancing.com does not approve bad credit refinancing. This site guarantee approvals on any "bad credit mortgage" programs but our services can refer you to FHA lenders. FHAHomeloanRefinancing.com has no affiliation with FHA or any other government subsidiary. Please note that by clicking "Submit" you are consenting to having your information shared with mortgage lenders and possibly other business partners to contact you (including through electronic means such as. autodialing, text & pre-recorded messaging) via telephone, mobile device and email, even if your telephone number is currently listed on any state, federal or corporate Do Not Call list. Certain restrictions and requirements may apply. - Site Disclosures

FHA Home Loan Refinancing Corporation, 3 Mason, Ste B, Irvine California 92618 | Visit our blog > FHA Loan Blog | FHA Credit Score Card | First Time Home Buyer Program

Some FHA programs may not be available to all borrowers. This is not a commitment to lend. Certain restrictions may apply when with FHA mortgages and bad credit refinancing.