FHA Refinance Program
Refinancing your loan can save you thousands of dollars of the course of your loan. Find out if you qualify by contacting us today! Our Home Loan Assistance will help you discover all of you options, not just the one's the banks tell you are available.
Refinancing in an FHA Program
Refinancing into an FHA mortgage or refinancing your current FHA mortgage is much more simple than you may think. Your first step should be to figure out what you want to accomplish with the refinancing. The most common forms of FHA refinancing are as follows:
- Cash-out: Just want the cash for whatever you want? This is the best option if you want to walk away from your closing with a check.
- Debt Consolidation: This option is best if you have too much high interest debt and want to roll everything into one easy monthly payment. Your FHA loan specialists will coordinate the payoff of your debt and you get to walk away from the closing without the burden of high interest rates weighing you down.
- Rate & Term: If you were subjected to a sub-prime or bad credit home loan an FHA Rate & Term refinance can actually decrease your rate as well as the size of your monthly payment.
- Streamline: FHA streamline refinancing is for homeowners who purchased a house or condo with an FHA loan and need to reduce their rate and payments. No credit check is needed with an FHA streamline refinance. The only condition required is no late payment on your current FHA mortgage within the past year.
What if I have bad credit? Can I still refinance?
Short answer: Yes!
If you are in a home and making payments, you have the right to find better interest rates. Don't let your bad credit scare you into thinking you can't refinance. Thousands of those who contact Own Your Home have found their way into an FHA Refinance Program. Why not you?
Find out how you can lower your monthly payment or evening shortening the length of your home. Call us today!