Refinancing your mortgage can lower your interest rate or monthly payment. Here’s how you can refinance an FHA loan and what options to consider.
Yes, you can refinance an FHA loan, but make sure you understand the loan options and requirements to decide what is best for you.
If your credit score is 580 or higher, you can get an FHA loan with a down payment of as little as 3.5%.2 1 By comparison, applicants typically need a credit score of at least 620 in order...
The main differences between FHA vs. conventional loans are credit scores, down payments, and mortgage insurance. Learn which type of mortgage is right for you.
and a monthly payment to compensate for the increased risk.[2]: 15 Frequently, individuals "refinance" or replace their FHA loan to remove their monthly mortgage insurance premium. Removing...
Wondering how soon can you refinance a mortgage? This guide explores the factors that determine the timeline, including waiting periods, etc.
Unlock the answer to how soon you can refinance a mortgage, plus the rules and procedures involved with the refinancing process.
The Federal Housing Administration (FHA) was created in 1934 in response to the Great Depression and is part of the Department of Housing and Urban Development (HUD). Its goal was to make it easier for Americans to afford homeownership by lowering their down payment requirements and offering attractive interest rates. Today, it offers more than a dozen different types of mortgage loans that do just that. An FHA loan is a mortgage program issued by private mortgage lenders and insured by the Federal Housing Administration. The federal agency ins ...
When you can refinance a mortgage depends on your loan type. You may have to wait up to 12 months. Learn how soon you can refinance your mortgage.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews. FHA loans are often recommended for first-time homebuyers or those with less-than-stellar credit histories because they're generally easier to qualify for, come with more affordable mortgage rates, and require less cash up front to get into a home. ...