FHA mortgage refinance provides affordable fixed rate refinancing for homeowners with all types of credit. Many homeowners are happy with the opportunities that have arisen with FHA mortgage refinance loans. Some borrowers have had a difficult time with their adjustable rate mortgage because of the recent interest rate adjustments that caused their payments to increase. Refinancing with an FHA loan can prove to be an effective way to put that equity to work.
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FHA Home Equity Refinancing Options
Consolidating credit cards or renovating the home are just a few of the ways consumers are using the equity they have accumulated in their home to help with these expenses. Keep in mind that FHA refinancing is the only sub-prime mortgage product that offers a competitive interest rate and cash back at this time. FHA offers several different options to homeowners who are considering refinancing their current mortgage.
Homeowners can earn home equity faster by making the first step into owning real estate.
The interest rates for FHA refinance and home purchase loans remain competitive and comparable to conventional Fannie Mae mortgage rates.
Because of plummeting home values and high adjustable rates, many consumers are inquiring about the FHA Secure options that are offered to homeowners who were never late prior to their mortgage adjusting.
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