Refinancing programs using the FHA loan allow both Cash-out & Rate Terms Refi's.
For homeowners who presently don't have an FHA loan, refinancing an existing mortgage into an FHA home loan may be the best option for you. The FHA mortgage program offers some of the best benefits when compared to like-kind conventional mortgage programs presently being offered. FHA Refinance benefits include:
- Easier qualifying
- Lower interest rates compared to conventional loans (which are based on LTV and credit score factors)
- Higher LTV's
- Comparable closing costs
- 30 year and 15 year refi options
- Added protections for foreclosure intervention
- Streamline Refinancing - Should rates go down at a later date, you can streamline refinance your existing FHA loan to take advantage without many of the costs associated with a traditional refi.
Similar to conventional products, using the FHA loan to refinance your existing mortgage really can make a lot of financial sense for most borrowers. Learn more about refinancing your existing mortgage using the FHA loan product by using our quick quote to get started today!
FHA Cash Out Refinance
Whether you have an existing FHA Loan or a Conventional Loan, FHA may be the answer for that cash out you're wanting for debt consolidation or even for home improvements.
With easier underwriting guidelines and great terms, FHA literally invites you to participate in their programs.
One of the biggest benefits that FHA offers is low rates for everyone. With FHA, "the rate, is the rate, is the rate." There are no adjustments for cash out, no adjustments for loan to value, and there are no adjustments for credit score!
If you qualify, you get the same great rate no matter what. Plus, you can borrow up to 85% of the appraised value of your home. Learn more about getting cash-out using the FHA refinance program by using our fast quick quote to get started instantly.