FHA Direct Loans

Sending a child to college, consolidating bills, taking a much needed vacation, making home improvements or avoiding a Foclosure are some of the ways homeowners tap into the equity they have accumulated in their home to help with these expenses. Keep in mind that FHA refinancing is only available to homeowners who are currently using their home as their principal residence.

 

Take advantage of new, low interest rates by refinancing your existing loan.
The Federal Reserve recently agreed to buy billions of dollars in home mortgages creating amazing benefits for all homeowners. Refinance your existing loan now to take advantage of these new, low rates. Our loan specialists can help ensure you get the best deal on your refinance to meet your goals whether that be to lower your monthly payments, to take cash out, or to get into a fixed rate loan. 

Keep you home and Prevent Foreclosure:
Refinancing your existing mortgage is perhaps the easiest and most logical way to help save you from foreclosure. With the recent fallout of the subprime lending market, tens of thousands of Americans are in search of a solution to their mounting mortgage payments. We can help.

Adjust from an ARM to a Fixed Rate mortgage:

With continually increasing interest rates, many people with an Adjustable Rate Mortgage (ARM) are starting to see their monthly payments climb. Ensure a low and steady monthly payment by taking advantage of a Fixed Rate Refinance. Fill out this form to get assistance and to determine how much your monthly payments will be with a New Fixed Rate mortgage. Get a Free Quote on a Fixed Rate Refinance now!

Get Cash Out for home improvements:

You can use the equity in your home to get cash out for a variety of purposes. You may also refinance your home to take cash out and make home improvements. Determine how much cash you can get with a refinance using your home's equity.

Consolidate your Debt:

If you are in debt and have high credit card bills, many credit counselors will advise you to consolidate the debt. Consolidating your debt by Refinancing your home and using the money to pay off credit card (and other) bills is a great way to save money and lower your monthly payments on your debt. You get the advantage of reducing interest payments on your total debt by consolidating it into your home loan. Find out how much you can save by Consolidating your Debt with a Refinance.

FHA Streamline Refinance
This refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly and often times without an appraisal. FHA Streamlined Refinance also cuts down on the amount of paperwork that must be completed by your lender saving you valuable time and money.

 

In order to qualify for a Streamlined Refinance your original home loan must be an FHA loan in good standing and the refinance must lower your monthly interest payments. This type of refinancing option reduces your monthly expenses by lowering your payments but there is no option to receive cash back. This works well for people who are in good financial standing with no significant debt because it allows you a little extra money each month that can be put to good use elsewhere.

 

If you have a conventional loan you wish to refinance with an FHA refinance loan, you'll need to apply with the usual employment verification, credit check, debt ratio requirements and other considerations. An FHA refinance loan can get you many of the same results, and you may get better rates and lower payments.

 

FHA refinancing is only available to homeowners who are using their home as their principal residence.