FHA Loan Programs

FHA Home Loan Refinancing assists consumers with government loan programs for refinance and purchase. Homebuyers need to come up with 3% to finance the specified home. Borrowers can take out a FHA loan up to $729,750 if you are buying in one of the more expensive neighborhoods. Just last year, the FHA insured maximum loan amount was $362,790, so HUD has made some significant changes in 2008.

If you are considering a FHA loan, you will need to document your income, employment and in most cases the proposed mortgage payments must be less than 43% of their gross income after monthly expenses like car payments and credit card bills.

FHA streamline loans were created to simply the refinancing process for borrowers who already have a FHA loan. The Streamline eliminated the pre-payment penalty and cut through the time consuming steps like appraisals.

Rate & Term Refinance with FHA Mortgage can be taken out to 97% Loan to Value if you only need to revise your 1st or 2nd mortgage.

Cash Out Refinance Loans – can be taken out to 95% Loan to Value if you need additional cash beyond the mortgage refinance. If you need to consolidate unsecured debt, then you will need a “cash out” loan.

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.