FHAAFFORDABLE.com is your solution for an FHA refinance. Did you know that a new FHA Loan can:
- Lower Your Monthly Payment
- Refinance Your Current Loan to help Avoid Foreclosure.
- Take Cash Out of Your Home’s Equity for Home Improvements
FHA Streamline Refinance Program
Is your loan currently insured by the Federal Housing Administration (FHA)?
Have you been current on your mortgage during the previous 12 months?
Are you currently employed?
If you answered YES to the above questions you may be eligible for an FHA Streamline Refinance. The term “Streamline” means there is reduced documentation and underwriting required to process your loan. Does your FHA Streamline Loan qualify for No APPRAISAL and NO INCOME verification? Click here to request a consultation.
FHA Loan Refinance: Cash Out Refinance
If you own your home for more then one year you may be qualified for an FHA loan Cash Out Refinance up to 85% of your homes value. The amount you can borrower is limited by the value of the property compared to the loan amount frequently called LTV.
The following are basic requirements of a cash-out FHA refinance home loan:
- Must be current on mortgage payments (previous 12 months)
- The subject property must have been owned by the borrower as his or her principal residence for at least 12 months preceding the date of the loan application.
- Owner occupied properties only.
- Loan amounts may not exceed the maximum loan limits for the area.
- All borrowers must credit qualify.
Find out if you qualify or submit your information for a consultation from an FHA expert.