With the resurgence of FHA home loans, many home owners are wondering if they can benefits from an FHA loan. The truth is that you may or may not benefit by converting your existing loan into an FHA loan when you refinance.
Some of the factors that can determine if an FHA loan is right for you:
- Loan To Value
- Home Value
- Size of Existing Loan
- Credit Score
- Amount of Cash You Want to Take Out
With the many changes that have occurred with FHA loans, it is possible that even if you didn’t qualify six months ago, there may be a loan program that is right for you.
One of our mortgage professionals can help you determine if an FHA loan is right for you quickly with no costs.
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On Saturday, the FHA Commissioner announced that FHA would be terminating its requirement to have second appraisals performed on properties above $417,000 in declining markets.