FHA Refinance - Myths and Facts

Everyone is talking about FHA refinance. Despite the myths surrounding FHA, there are powerful benefits to refinancing with FHA mortgage loans.

Powerful Reasons For FHA Refinancing

In my opinion, the greatest benefit to FHA refinancing is that FHA home loans are more forgiving to less than perfect credit. So don't let credit problems stop you from pursuing an FHA refinance.

Very little equity in your home is required, important if your home appraises lower than you expected. If a low appraisal is preventing you from refinancing, consider an FHA refinance.

And how about this? Cash-out refinances are offered by FHA. That means you could lower your mortgage payment and come away with cash for home improvement or other purpose. Now that's generous!

FHA Closing Costs - Myths And Facts

Get the inside scoop on FHA closing costs. Separate the myths from the facts.

Myths Regarding FHA Closing Costs

  1. Myth - Streamline FHA refinance means no closing costs
  2. Myth - No out of pocket costs mean no closing costs
  3. Myth - No upfront expense equals no closing costs
  4. Myth - No points are the same as no closing costs

Facts Regarding FHA Closing Costs

  1. Fact - FHA refinancing does have closing costs
  2. Fact - Possible to refinance without upfront cost
  3. Fact - Possible to refinance with no out of pocket cost
  4. Fact - Closing costs can be financed using higher rates
  5. Fact - Loan amounts can include closing costs

Unlock The Code To FHA Requirements

Sure, I know if this is the first time you've heard of FHA it can seem a bit daunting. But you can do this!

To unlock the code of FHA loan requirements, use my easy FHA eligibility calculator.

Ask Kate More About FHA Refinance

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FHA Refinance - Here is where myths get separated from the facts.