Refinancing with an FHA loan offers numerous advantages, making it an attractive option for homeowners looking to lower their monthly payments, reduce interest rates, or access home equity. FHA refinance programs, such as the FHA Streamline Refinance, provide a simplified process with minimal documentation and no appraisal requirements, ensuring a quick and hassle-free experience.
Mortgage rates can vary based on factors such as credit score, loan type, down payment amount, and current market conditions.
The benefits of a FHA refinance loans come with flexible credit and income requirements, making them accessible to a wider range of borrowers. Whether you're looking to improve your financial situation or take advantage of better market conditions, an FHA refinance can provide the support and savings you need to achieve your financial goals.
Building or buying, for yourself or to invest, we have the home loan for you.
Is all you need to be approved for a FHA refinance.
You must have a minimum of 6 current on FHA loan.
No income is required for a FHA refinance.
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An FHA mortgage refinance is a loan option that allows homeowners with existing FHA loans to refinance their mortgage, potentially lowering their interest rate, reducing monthly payments, or accessing home equity.
Homeowners with an existing FHA loan who meet the FHA's credit and financial requirements are eligible. Typically, a minimum credit score of 640 is required, along with proof of steady income.
Common FHA refinance options include the FHA Streamline Refinance, which offers a simplified process with minimal documentation, and the FHA Cash-Out Refinance, which allows you to take out equity from your home.
Benefits include potentially lower interest rates, reduced monthly payments, and the ability to access your home's equity for other financial needs.
Single-family detached, single-family attached, 2–4 unit detached/attached, PUDs, low-rise and high-rise condominiums (must be FHA eligible), rural properties (in accordance with agency guidelines, loans must be residential in nature)
You have wait at least 210 days since your last refinance in order to qualify.