Federal Housing Administration Loans
FHA offers Refinancing to homeowners. If you are confused about refinancing then please read our refinancing page.
FHA Refinancing Loans
Who can qualify WITH an Appraisal:
The new loan will be the lower of the original amount including the upfront premium OR Payoff including any of the following: 1)accured late charges and escrow shortage; 2)closing costs and establishment of impound account minus any MIP refund.
Who can qualify WITHOUT an Appraisal:
The new loan will be the lower of 97.75% of Appraised Value OR the Payoff including accured late charges and escrow shortage, closing costs and establishment of impound account, and minus any MIP refund.
No Credit FHA Qualifying Refinance
- A 12 month pay history will be required on the mortgage loan
- Cannot be currently in default
- Clear LDp/GSA
FHA Secure Refinances
Payoff must be for a non-FHA ARM that has been RESET. The maximum LTV is 97.75% baised on appraised value without any cash investment from the borrower. With sufficient LTV the new loan can include any past due payments.
These FHA requirements are meant as a guideline please contact our office for more specific information about your situation. You can also read more about the FHA requirements.
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