FHA refinance home loan

Current home owners who need to refinance their mortgage have a wide variety of home loan programs available to them. Many are based strictly on credit score. FHA offers excellent home loan programs for home owners of all credit grades and bases approvals on credit profile not just credit score. Talk to your mortgage broker about FHA financing and how it may benefit you.

FHA refinances allow for cash-out refinances up to 95% of the value of your home. There is no minimum credit score requirement, although a good recent credit history is required. Many other loan programs have recently restricted their cash-out lending parameters.

FHA loans also will allow for financing on manufactured homes, provided they are on a permanent foundation and built after June 15, 1976. Ask your mortgage professional for details.

Having a property recently listed for sale will not automatically disqualify you for FHA Financing. Proof of delisting and a letter of explanation is required.

» DISCLAIMER: The information contained in this article on 'FHA refinance home loan' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.