FHA refinance rates are at all time lows, and at First Savings Bank we can help you secure the rates you need to improve your financial situation. Homeowners can qualify for this kind of refinancing even when they have a slightly lower credit scores or higher debt-to-income ratios than is normally required by most conventional loans. FHA home loans also allow “non-occupant” co-borrowers which may help in the qualification process.
Who benefits most from an FHA refinance?
There are a lot of potential benefits for existing borrowers:
- Who want to refinance to take cash out of the equity in their home
- With less than perfect credit
- Who have previously had late mortgage payments (some limitations apply)
- Who are seniors and would like to supplement their income using the equity they’ve built
- Who may simply want to lower their interest rate or monthly payments
Some FHA loans offer:
- No Appraisal FHA Streamline
- Low fixed rates as well as incredibly low FHA ARM rates
- Jumbo FHA loans, which can make “high cost” areas more affordable
- Cash-out options, which allow you to access the equity in your home
- Refinancing for up to 97.75% of your home’s value
- The ability to defer 1-2 mortgage payments
- A cash refund from your current escrow account
How do I get an FHA refinance?
The first step is to get prequalified. Get a free quote today and one of our preferred loan specialists will contact you to discuss your options. The right loan officer can make a huge difference, and we can connect you with the consultants who have the knowledge and experience to save you thousands of dollars on your home loan.
Don’t wait to get started. Contact us today to take advantage of the flexible features of an FHA refinance.