FHA Loan Programs

February 26th, 2014

FHA was born in 1935 and become a legendary loan product that is insured by the government.  Since it’s inception, FHA has been a very popular mortgage that promotes homeownership and fair lending in America.  The FHA Loan Blog provides mortgage information like lending products and current mortgage rates for all types of FHA home loans.

FHA Home Loan – This traditional FHA mortgage is great for first time homebuyers looking to maximize their savings by minimizing their down-payment because FHA only requires 3% down with home financing to 97% loan to value.

FHA Streamline Refinance – This FHA loan is an exclusive offer to existing FHA borrowers who seeks a rate and term refinance to lower the mortgage payment or improve the lending terms.  No cash out is allowed and borrowers can refinance to 97% loan to value.

FHA Cash Out Refinance – The FHA 203B loan is a refinance mortgage that FHA offers for refinancing 1st and 2nd mortgages into one loan up to 95% loan to value.  This cash out refinance loan enables homeowners to consolidate debt and loans at a very low interest rate.

FHA Rehabilitation – The 203K mortgage is a unique loan because it provides funds for home improvement up to 115% loan to value.  This has become a very popular financing tool with people who buy a foreclosed home that need additional funds for home rehabilitation.

FHA Secure Refinance – The 203S loan was a refinance product that was created a few years ago for distressed homeowners that were struggling with the rising rates from an ARM.  With FHA Secure refinancing, borrowers can be delinquent on their mortgage payment, but must have no mortgage payments reported late prior to the interest rate resetting and adjusting.

Hope for Homeowners – The H4H mortgage is a new FHA product created for borrowers that are experiencing a financial hardship and in many cases, fighting off foreclosure.  The Hope for Homeowners loan enables borrowers to refinance up using their property at fair market value.  Borrowers must be at least 90 days delinquent on their mortgage and meet the minimum lending requirements with income documentation.

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  1. February 12th, 2009 at 21:04 | #1

    Interest rates for mortgage refinancing remain low, but borrowers with bad credit have very few options. Please let us know how your lenders are handling all of the subprime and bad credit loans.
    thanks- Tommy Guildster

  2. February 5th, 2010 at 19:48 | #2

    I agree with your take on the future of FHA financing, but what is your opinion regarding refinancing 2nd mortgage loans into FHA loans in first position?…The subordination guidelines for FHA refinancing changed recently and it cetainly isn’t helping borrowers eliminate their variable rate hoime equity line. Let me know if you see any bemefits to the recent guideline changes for second mortgage subordination. -Thanks J. Miller

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