FHA Mortgage Refinance for Lower Rates and Debt Consolidation

Originally FHA loans were designed to help increase homeownership. FHA mortgage refinance options ensure fair lending and flexible guidelines for refinancing and consolidating credit card debt. Since being founded in 1934, FHA has evolved with premier FHA mortgage refinancing for cash reserves, home repairs and bill consolidation. Whether you are seeking cash out for bill consolidation or simply a more affordable payment, we offer a true solution utilizing all types of FHA mortgage refinance solutions.

FHA Refinance for Debt Consolidation that Lowers Monthly Payments!

FHA continues to expand with many FHA refinance loan options that include debt consolidation, cash back and rate and term fixed rate refinancing. FHA is one of the last mortgage loans that enable borrowers to consolidate mortgages, loans and credit cards. Most lenders have repealed their home equity loan programs, so FHA refinancing has taken a more significant role in cash refinancing and consolidating than ever before.

In 2011 FHA mortgage loans will boast of competitive advantages for homeowners looking to refinance high rate bills and adjustable rate mortgage together into a new fixed rate mortgage that save them a fortune every month. FHA mortgages allow debt consolidation up to 95% loan to value if you have not been late on your mortgage payments in the last twelve months. However if you have been reported late by your mortgage company in the last year, than you can consolidate credit cards, loans and collections up to 85% loan to value. Many lending enthusiasts fear that FHA refinance guidelines will tighten sooner than later, so get approved now while FHA rates are so attractive.

Exceptions are granted with FHA refinance loans on a case by case basis if you have circumstances that caused credit problems that were beyond your control. The mortgage rates for refinancing debts and consolidating bills is phenomenal and many homeowners are reporting monthly savings ranging from $500 -$1,200 a month.

Conventional debt consolidation loans usually have higher interest rates than FHA mortgages, so homeowners may be pleasantly surprised with their new mortgage payments after consolidating bills and variable rate loans into a fixed rate sponsored by FHA.

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

Because of many homeowners have been struggling to make their payments on time, HUD has introduced several mortgage relief programs. (even if you have a bad credit mortgage)

Ask your loan officer about the Emergency Homeowner Loan Program and the FHA Short Refinance option if you are having trouble qualifying for FHA refinancing.