FHA Loans - FHA Refinance - FHA Rates - FHA Refinancing - FHA Home Loan

No Cost and No Obligation to Apply for FHA Loans.

When a homeowner refinances a FHA mortgage with an increased principal amount to get additional funds. In most cases, this happens when the home increases in value and the borrowers want to consolidate ARM's, pay off credit cards or make improvements to their property. Once you are an FHA customer, the streamline ensures the lowest interest rate and there is no penalty for refinancing or selling your home.

How to Qualify for Low FHA Mortgage Rates for Refinance and Purchase

With the Federal Housing Administration, cash out refinancing is available from 85% to 95%. FHA streamline refinance loans, rate and term refinancing and home purchase loans are available to 96.5% loan to value.

A decade ago, a group of FHA mortgage lenders banded together and established a new mortgage company in an effort to provide better refinance and home purchase loans for homeowners with good and bad credit scores. Our mission is to help lower the mortgage payments for homeowners so that people can save money and invest it into their family. By providing competitive government home loans, we help homeowners with a bad credit history refinance their adjustable rate mortgages and revolving debts into a lower, more affordable monthly payment.

California, New York, Pennsylvania and Ohio home loan application volumes continue to increase as the demand for refinancing and buying home foreclosures has increased in those states significantly. With FHA rates dropping down to3.875%, it makes sense for consumers to lock into a FHA loan while the interest rates are so low. New Jersey mortgage loans are in high demand as well, because FHA is enabling homeowners to refinance their mortgage even if their home loan balance is greater than their home’s value.

Compensating Factors for FHA Home Loan Refinancing with Bad Credit Scores and Past Bankruptcies

• Borrower can document savings & evidenced with checking, savings, 401k or retirement accounts
• Credit reports indicates borrower has the ability to devote good portion of income to home expenses
• Borrower can show additional income/compensation not reflected in effective income
• Minimum increase in borrowers housing expense
• FHA loans enable a prospect to document 3+ months cash reserves after closing
• Some subprime companies still offer FHA home loans for people with bad credit
• Borrower can show extended history of employment that greatly exceeds FHA requirements

Will the Government Extend Higher Loan Limits on FHA Mortgages? The Housing Wire reported that members of a joint committee are determined to pass a bill that would raise 2013 FHA loan limits for the next two years in an effort to help the distressed housing sectors in high cost regions across the country. The proposed spending bills awaits a vote both the Senate and House in which the maximum loan amount on FHA home loans would be reinstalled to post-housing crisis levels and extended through the end of 2013.

HUD Encourages Consumers to Understand Loans and Shop for Best Cost
HUD Secretary Alphonso Jackson recently proposed new FHA mortgage reform in an effort to assist consumers in better understanding how home loans work and what specific loan terms mean. This new FHA loan initiative was created to ensure that FHA house loan terms and closing costs that homeowners or homebuyers pay during the process or refinancing or purchasing a home are adequately disclosed and explained. HUD believes that if we improve the education of homeowners that borrowers will make better, more informed decisions. The government remains committed to ensuring that consumers can shop and find a FHA loan that meets their needs. Lower lending costs and more affordable FHA interest rates are beneficial to borrowers and the economy in the United States.

More Cash Out Refinancing Opportunities with FHA! Under the new economic stimulus package, the FHA mortgage limits on the Combined Loan to Value (.ie CLTV) will be raised from 95 percent to 125 percent while new caps for home loans will exceed $500,000. Please Note: FHA does not offer second mortgage loans or home equity lines of credit. Unique FHA House Loan Programs Ensure Fair Lending 203b: FHA's single family program which provides mortgage insurance to lenders to protect against the consumer defaulting. The 203(b) is used to finance the purchase of 1 to 4 unit homes. 203k: This FHA mortgage loan enables homebuyers to finance both the purchase of a new home and the cost of its rehabilitation through the safe mortgage. These "rehab loans" enable people to finance specific remodeling up to 115% of their property's appraised value. Streamline Refinance: a refinancing existing FHA loan only for the amount remaining on the mortgage. The borrower does not get any cash and less paperwork is required. We provide straight-forward FHA refinancing programs for all types of borrowers. FHA just announced a new program for FHA Down Payment Assistance Home Loans. This home financing initiative should offer more opportunities for first time homebuyers to become homeowners. Buying a house can be a stressful time and that's why we provide FHA mortgages with low down-payments and reasonable credit standards. This government insured program remains the top choice for first time house buyers in nearly every state. Bad Credit Refinance Home Loans - This subprime program is still possible with FHA home loan refinancing, Hope for Homeowners and rate and term refinancing with the flexible FHA guidelines. Refinancing FHA loans may be possible with credit scores as low as 500. What's New with FHA Lending? >    2014 FHA Loan Requirements >    FHA Refinancing with Bad Credit Scores >    Rate & Term Refinance with FHA Mortgage >    FHA Energy Efficient Home Loans Cash Refinance Choose FHA Home Loans

State Home Mortgage Loan Limits for FHA Lending

A few years ago, FHA and Congress pushed through an emergency lending bill that extended FHA loan amounts across the country. Earlier this year, consumers received some good news from HUD with the economic stimulus package that mandated a dramatic increase for conforming and FHA limits. The higher loan amounts should help thousands of homeowners refinance into better mortgages. Most FHA lenders were praying that 2014 FHA loan limits will remain at 2013 levels. Last year, the U.S. government announced that HUD will continue to recognize the FHA Limits from the previous year. The limits in 2012 were reduced temporarily on FHA loan refinances and purchase mortgages until Congress passed an emergency bill that reverted to the higher limits from the previous year. Going forward this year and beyond you can expect competitive rates for FHA refinancing and buying. FHA home loans for bad credit may not last forever, so if you have credit scores below 620, we suggest you review your eligibility with an experienced lending professional that is approved with the Federal Housing Administration.

The state pages below are listing of the FHA single family mortgage limits. The loan limits were referenced from the FHA's department’s automated underwriting system online. Since mortgage limits can change frequently, please contact your loan officer to verify applicable loan increases. (See www.hud.gov ). All Loans subject to FHA loan limits by state and county.