Fha Loans

Fha loans, What and Why Are They?

The FHA is not a lender. With the recent subprime lending collapse, the FHA home loans have become cool again, as mortgage lenders and brokers are flocking to the latest FHA loan programs. A common misconception is that FHA home loans are for first time homebuyers. FHA loan guidelines also provide attractive benefits to home buyers as qualification is usually less stringent than conventional loans. If refinancing a home, the current loan DOES NOT have to be an FHA loan. Refinancing an existing FHA home loan is actually called a streamline refinance. Fha loans are for all homeowners that are buying, or refinancing their home. Fha loans are for all homeowners that are buying, or refinancing their home.
FHA home loans require a smaller down payment as well. Down payments for FHA home loans are low, generally 5% or even as low as 3.5%. The finance package in a nutshell is: FHA insurance + lender financing = FHA loan. FHA home loans are available in rural and urban areas. FHA home loans are not loans granted by the government, but FHA home loans are mortgage loans that are guaranteed by the Federal Government. FHA home loans are generally offered at reasonable interest rates, and guarantee the mortgage company that the loan will be paid.

FHA Secure - Learn More About Fha loans

By making this refinancing option on Fha loans available to homeowners with ARMs, the FHA gives you the ability to make your mortgage payments and keep your home.

What Does This FHA Loan Program Do?
FHA Secure is a program that allows homeowners to refinance their homes with FHA insured loans. These Fha loans are specifically geared towards homeowners who have non-FHA adjustable rate mortgage loans (ARMs) and who are current or delinquent on their mortgages. Whom Can Benefit from FHA Secure?
Why Choose these Fha loans?
By refinancing with a FHA Secure loan, you can secure lower monthly mortgage payments. The FHA requires its lenders to offer Fha loans at market rate with terms up to 30 years.