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Refinancing with a FHA Home Loan
The FHA Refinance Home Loan helps qualified homeowners to reduce their current interest rate and decrease their monthly mortgage payment. Many homeowners can even get cash back on their FHA refinance to accomplish things like making home improvements, paying off debt, to establish an emergency fund, or for any other reason they might have. This is an excellent time for borrowers to take advantage of the current economic climate and make use of all of the benefits that come along with a FHA Refinance Home Loan. Getting started is easy, just give our FHA Home Loan Specialists a call at (888) 301-3465 or start your FHA Refinance quote online.
The two most popular programs that help FHA homeowners to refinance their current Home Loan to a lower rate are the FHA Streamline Refinance, as well as the FHA Cash-Out Refinance.
- The Streamline refinance is an excellent way for homebuyers with an existing FHA Home Loan to lower their interest rate and achieve substantial monthly savings with a lower mortgage payment. You cannot receive any cash from the loan proceeds.
FHA Cash-Out Refinance
- The FHA Cash-Out Refinance is an option for homebuyers with an existing Home Loan to access cash based upon the equity they have in their home for home improvements, to pay off debt, for emergencies, or for any other reason that they might have.
Are you thinking about refinancing? Speak with a FHA Home Loan Specialist to discuss what your options are.
A FHA Streamline Refinance allows those who currently have a FHA Home Loan to refinance into a lower interest rate FHA Home Loan and achieve substantial monthly savings with a lower mortgage payment. FHA Streamline Refinance loans require little paperwork and frequently there are little or no out of pocket closing costs. Borrowers can also include their closing costs into their total loan amount.
Another option that is available is the FHA Cash-Out Refinance. This option allows borrowers to take advantage of the equity that they have built up in their home and use it as cash. This can be a good option for man homeowners wanting to have liquid funds, work on home improvement, to consolidate debts, pay off higher interest rate loans, or maybe to just take that much needed vacation.
FHA Refinance Eligibility
Eligibility for a FHA Refinance is very similar to a FHA Loan to purchase a home.
Do you have questions about whether you qualify?
Our FHA Home Loan Specialists are available to answer any questions that you might have about the FHA Home Loan Program. Please give us a call at (888) 301-3465 or you can get started online.