Did You Know?

There are a variety of FHA Refinance programs that let borrowers reduce the interest rate on their current mortgages.

Click to Start Your Refinance or Purchase Loan

FHA Refinance Loans

There are a number of reasons that homeowners decide to refinance their homes. You might want to take advantage of low interest rates to decrease your monthly mortgage payments. Or it might be you simply want to put your home equity to work by making upgrades. Whatever the reason, there's likely to be a suitable FHA Refinance option available that works with your goals.

FHA Streamline Refinance

The FHA offers a "streamlined" refinancing option that allows current FHA borrowers to reduce the interest rate on their home loans quickly and oftentimes without an appraisal. FHA Streamline Refinances cut down on the amount of paperwork that must be completed by lenders saving valuable time and money.

FHA Cash-Out Refinance

A cash-out refinance lets existing homeowners to use the equity they've already accumulated on their home. To be eligible for an FHA Cash-Out Refinance, FHA borrowers must have at least 20% equity in the property based on a new appraisal.

FHA Simple Refinance

A Simple Refinance allows a homeowner lower the interest rate on their current FHA loan, whether it's a fixed-rate loan or an ARM. The refinance is straightforward, requiring a credit qualification, income, and assets to ensure the borrower meets the new loan requirements.

FHA Rehab Loans

The FHA 203(k) loan lets you refinance your home and use the cash funds to make repairs and upgrades to it, or to "rehabilitate" it. The FHA's Rehabilitation Loan can also be used to finance the purchase of an older, "fixer-upper" house at a low price.

Reverse Mortgage

The FHA's Home Equity Conversion Mortgage, commonly known as a reverse mortgage, is for homeowners above the age of 62 who are looking to use some of the equity they've amassed on their home. This loan is not repaid until the home is sold or the borrower dies.

See Your Credit Scores From All 3 Bureaus
See Your Credit Scores From All 3 Bureaus

FHA Loan Articles

FHA Loans, Appraisals, and Excess Land

Sometimes when buying a home there may be a question of surplus or excess land. You likely won’t face this issue when buying a condo unit, but for other types of purchases, this may be an important factor in the appraisal process.

Questions to Ask About an FHA Home Loan Before You Apply

Planning your FHA loan means asking some important questions early in the process.  The most obvious question is associated with the type of home you want. How large a house do you need? FHA mortgages allow the purchase of homes with between one and four living units.

Ready To Apply for an FHA Loan?

Before you get ready to commit to a home loan application, it’s good to review your circumstances and ask a few basic questions about your loan, your plans, and the home itself. Believe it or not, knowing what type of home loan you need is an important step.

FHA Appraisal Rules for Basements

The appraisal process is a very important part of buying a home. When you are budgeting and planning for your loan, you may want to set aside some extra funds in case there are corrections required as the result of an appraisal.

What Kind of Home Loan Works for Me?

Once you’ve decided that you’ll be purchasing a home, one of the first questions you need to ask yourself is what kind of mortgage you’ll be using to finance it. When it comes to shopping for a home loan, there are a number of options to consider.

Everything You Should Know About Appraising for a Refinance

Savvy homeowners make it a point to monitor interest rates so they can take advantage of a drop. Many choose to refinance their mortgages to capitalize on falling rates and lower their monthly payments and save on interest.

-- Find More Articles in the FHALoan Library --

FHALoan.com is not a government agency. We do not offer or have any affiliation with loan modification, foreclosure prevention, payday loan, or short term loan services. Neither FHALoan.com nor its advertisers charge a fee or require anything other than a submission of qualifying information for comparison shopping ads. We do not ask users to surrender or transfer title. We do not ask users to bypass their lender. We encourage users to contact their lawyers, credit counselors, lenders, and housing counselors.

SecureRights Advertiser Contact Information