#fha home loans
FHA Home Loans
Mortgage Lenders Extend Low FHA Loan Rates on Options for Refinance and Home Purchase Programs for All Types of People in the U.S.
The Federal Housing Administration announced they were extending more government insured FHA home loan programs for American borrowers. Let us connect you with approved FHA Lenders that provide competitive FHA home mortgages. Most of our lending partners were pleased when HUD announced revised limits on FHA loans with low rates and finance options for homebuyers. Now even homeowners with below average credit scores are able to qualify affordable fixed rate FHA house loans in some cases. There is no pre-payment penalty with any FHA home loan programs. Are you searching for an HUD approved FHA mortgage company that offers competitive rates for streamline, cash out refinancing and FHA loans for first time home-buyers.
Guidelines have seen significant changes over the last few years and the requirements are changing for both refinance and purchase transactions. With aggressive lending parameters and record low rates, now is the time to consider a FHA loan.
Learn How to Qualify for FHA Home Mortgages with Low Credit Scores or No Previous Mortgage History: Even if you have low fico scores, the bad credit FHA home loan programs may provide you the opportunity to lock into a low fixed rate that reduces your housing expenses monthly. The Federal Housing Administration has always maintained reasonable financing programs for first time home buyers with modest down-payment requirements and relaxed credit score requirements. This website connects 1st time buyers with HUD approved FHA loan lenders in all 50 states.
FHA Home Financing for Limited or No Credit for 1st Time Home Buyers
FHA has also been helping non-homeowners buy their first home without requiring a significant down-payment. Borrowers with limited or bad credit can qualify for a competitive low rate FHA home mortgage that can be refinanced with the streamline program any time the interest rates improve.
Find government lenders that provide helpful information regarding FHA house loans that have assisted thousands of homeowners with less than perfect credit obtain a competitive rate for their first home loan. First time homebuyers can take advantage of 97% FHA home purchase loans and 100% home financing available with the My Community loans sponsored by Fannie Mae.
FHA Home Loans for People with Little or No Equity or Poor Credit Scores. If you do not qualify to refinance your mortgage and you need a more affordable payment to survive, ask your loan officer about the latest FHA mortgage programs or the revised government relief initiative, the HARP is available to qualified borrowers who have underwater mortgages owned by Fannie Mae or Freddie Mac. The streamline has been used as a similar underwater solution for a no equity FHA home refinance loan. Ask your loan officer to help you determine if either one of these loan options is available with your credentials.
Many of our lenders recommend FHA loan programs because they provide a vehicle that assists existing homeowners by enabling them to convert their adjustable rate mortgage to a fixed rate and even a reduced monthly payment. FHA home loan financing was created to ensure affordability for all Americans with fixed housing payments for 15 and 30-year amortization schedules. People like the FHA mortgage because the guidelines are flexible and the ability to obtain low interest rates remains real.
These government home loans have become the most popular mortgage in the nation for refinancing and new home purchases. Even with the foreclosure epidemic, more borrowers are turning to FHA to finance homes that were recently foreclosed upon. With the FHA mortgage, homeowners can count on market-low mortgage rates for cash out refinancing and streamline loans.
FHA Home Loan and Refinance Benefits
- Poor Credit Scores Are OK with Compensating Factors (ie. no late mortgage payments in last year, more equity, high amount of assets, etc.)
- FHA Loans allow you to Refinance 1st & 2nd Mortgage Loans into a better loan with a Fixed Rate
- • Refinancing out of Chapter 13 Bankruptcy with a good BK and home loan payment history. Bad credit FHA home loans are available for borrowers with scores as low as 500.
Unfortunately many homeowners believe they would not qualify to refinance their existing home loan or qualify to buy a new home because they were recently late on their consumer bills like credit cards or car loan payments. In most cases the credit scores for these homeowners have plummeted below the accepted threshold that mortgage lenders require. These government programs offer a unique opportunity and FHA loan rates are at their lowest level in 50 Years!