FHA Refi

As interest rates hit rock bottom more and more consumers are seeking FHA refi approvals. No longer is the Federal Housing Administration just offering home loans for first time home buyers. The FHA refi programs have become popular with homeowners who have less than perfect credit or not enough equity for traditional refinancing.

Do I always have to pay monthly mortgage insurance with a FHA refi? In most cases borrowers will be required to pay the mortgage insurance, however if you have more than 10% equity in your home and you choose the 15-year FHA mortgage option then the monthly mortgage insurance is waived.

Reduce Your Mortgage Payment with a Low Fixed FHA Refi

Since the Federal Reserve has committed buying more mortgages FHA rates have fallen to new record lows. FHA refinance opportunities continue to meets the needs of homeowners who have struggled with credit issues that have prevented them from qualifying with a conventional lender.

FHA refinance rates have fallen to 4.125% on 30-year mortgages with a term guaranteeing fixed interest for the life of the loan! Remember that there is never a penalty for refinancing or early pay-off with FHA loans.