FHA Home Loans Refinancing

FHA Refinancing

07.23.10

Over the last few years, many American homes have been saved by FHA refinancing.  When the subprime mortgage programs were yanked by lenders in 2006, FHA refinance programs became the only viable solution for thousands of homeowners that had grown accustomed to refinancing with subprime lenders.  FHA was one of the few affordable refinance programs that gave borrowers with bad credit another chance. FHA home refinancing is unique because there is never a pre-payment penalty for borrowers who refinance or sell their house.  FHA refinancing is also beneficial to borrowers who want to refinance if the interest rates happen to go lower than the rate of their mortgage. The FHA streamline is an automated process for borrowers looking for fast results and low rate FHA refinancing.

Affordable FHA Refinancing

FHA has always made an effort to promote fair lending and the fixed FHA home refinance loan options continue to be extended to borrowers who have challenging circumstances. The Department of Housing and Urban Development has made several strides to stem the foreclosure crisis with FHA refinance program alternatives like:

  • Streamline FHA Refinancing
  • Cash Back with FHA Refinancing
  • FHA Secure
  • Hope for Homeowners
  • Home Affordable Modification

FHA refinance guidelines have changed in 2010, so discuss the FHA loan requirements with one of our licensed FHA loan officers.

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