FHA Refinance Mortgages
As traditional mortgage lenders began tightening loan guidelines, the demand for FHA refinancing increased dramatically. As an experienced government lender, Nationwide lenders are proud to offer affordable FHA refinancing to borrowers with all types of credit.
Our lenders guarantee the FHA refinance rates online to qualified loan applicants. The Department of Housing and Urban Development has implemented many changes to FHA refinance loans in the last few years, so discuss your goals and circumstances with a loan officer at Nationwide who has experience with government refinancing.
Save Money with Low Fixed Rate FHA Refinancing
FHA rates have fallen to amazing lows which have created many opportunities for homeowners across the country to reduce their interest rate and lower their monthly payments with discounted FHA refinancing. Take advantage of interest rates are low and consider refinancing with FHA today.
Can You Refinance a FHA Loan?
You have the option to obtain an FHA Simple Refinance, which replaces your current FHA insured loan with a new loan, available in either fixed-rate or adjustable-rate terms.
Switching from an FHA mortgage to a conventional loan through refinancing ranks among the most prevalent choices for homeowners with an existing FHA loan who aim to eliminate mortgage insurance. With a conventional loan, once you attain 20% home equity, there’s no private mortgage insurance requirement, making this transition highly appealing.
To secure approval for refinancing from an FHA mortgage to a conventional loan, you’ll likely need to maintain a debt-to-income ratio (DTI) of 50 or less and possess a median credit score of 620 or higher. This credit threshold may pose a challenge for some borrowers as FHA credit score prerequisites are comparatively more relaxed.
Homeowners experience the advantages of continually investing in their property over time. At certain points, this investment can become particularly beneficial. Utilizing an FHA loan for refinancing can be an efficient method to leverage that accumulated equity. It’s important to note that FHA refinancing is exclusively accessible to homeowners who presently occupy their homes as their primary residence.
Recommended FHA Refinance Pages | |
| FHA Home Refinancing Loans Americans like FHA for refinancing their homes because they are fair and flexible with credit. Get a lower interest rate or get access to cash for consolidating debt. | FHA Bad Credit Refinancing FHA has been helping people with less than perfect credit since 1934. If you have a 500 credit score or better, you may qualify for FHA refinancing. |
| FHA Streamline Refinance If you already have a FHA mortgage, refinancing is easy with the streamline program. No cash out allowed. | FHA Home Reverse Mortgage Loans If you are an American who is at least 62 years of age, you may be eligible for a home loan that pays you. |
| FHA Home Refinance Loans After a Bankruptcy Many homeowners have to file bankruptcy. FHA provides people with another opportunity for a lower rate with FHA refinancing allowed after 24 months of the BK discharge date. | |
| FHA Government Mortgage Refinance The U.S. created the Federal Housing Administration and offers government refinancing nationally. | FHA Mortgage Rate Refinance When a borrower needs to refinance their home without cash, we call it a rate and term refinance. |
| 97% FHA Refinance Loans Borrowers can refinance their home with only 3.5% equity in their home. This is the closest thing to 100% refinancing. | 85% Cash Out FHA Refinance Loans Homeowners get access to tax deductions and cash out that non-homeowners do not have. FHA allows cash out refinancing to 85%. |
| FHA Mortgage Loans for Fair Credit Refinancing We offer government refinance programs for borrowers with good and fair credit. Take advantage of the flexible credit guidelines that HUD continues to promote with FHA refinancing. | 203K FHA Home Improvement Loans This government mortgage enables borrowers to get cash for home rehabilitation and energy efficient initiatives. Imagine installing a solar energy system and eliminating your energy bill. |