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Government Refi News
Recently, the White House led a conference to improve home financing. The Obama Administration announced they lowered up-front premiums to 0.01% of total amount borrowed for the streamline plan that targeting homeowners having trouble refinancing because of suppressed property values.
Cash Mortgage Refinance with FHA
Homeowners have a distinct advantage when refinancing with a cash back mortgage, because of the access to money at cheap rate with tax advantages as well. Yes you can get money back when refinancing with the Federal Housing Administration. This popular refinance product called the "203B" allows for people to receive cash when their loan closes escrow. In today's market, cash out refinance opportunities are more cherished.
In the past cash back was allowed up 95% loan to value but today FHA is approving cash refinancing up to 85% loan to value. For example if you would like to finance some home remodeling and it's worth $450,000 and you want to get an additional $75,000 to cover the costs it won't be a problem. Compare our FHA refinancing with subprime or traditional mortgages and you will be pleasantly surprised.
Nationwide Mortgages is a direct lender who prides themselves in providing quick approvals and quick painless closings. FHA is one of the last cash mortgage products that allow borrowers to receive funds back in a refinance transaction with low credit scores.
Fund Your Dreams with Cash Mortgage Refinancing from FHA
With home improvement costs falling, now is a great time to get cash out and make those needed repairs. Today, FHA rates continue to make headlines as falling below the 4% barrier offers a clear path for homeowners to save money when taking action with regards to available refinance offers. It's important to know that traditional lenders are requiring more equity on their cash out refinance loans.
Fixed FHA Refinancing Pays Cash to Borrowers
Evaluate our FHA choices; cash back options, loan terms and get helpful advice on government home mortgages. FHA refinancing is ideal for homeowners shopping for a reliable fixed rate loan.
Cash mortgages by FHA is still protected and insured by our government. Consumers are encouraged to apply online with lenders like Nationwide. We are HUD approved to extend credit for refinance mortgage liens with residential collateral.
FHA refinancing amounts range from $271,000 to $700,000 (based on HUD high cost limits in county)
Low Credit Scores Allowed
95% LTV for getting cash in hand
Maximum Debt to Income - 43- 55% depending on equity and credit history
Documentation Types - Full Doc with Cash Out
Consolidate all your high rate revolving debts into new home loan
Cash Mortgage Approved with Low Fico Scores
30-Year Amortization Term
30-Year Fixed Interest Rates
Maximum CLTV up to 96.5%
No Fees for Early Pay-Off
Cash Out Mortgage Option to 85%
15-Year Amortization Term
No mortgage insurance for 15 year terms under 90% Loan to Value
If you need money quickly, consider FHA for cash refinance loans because you can lower your interest rate and get access to money without having to break the bank on closing costs or pre-payment penalties. FHA does not consider credit scores.
Cash refinancing with FHA is a popular choice because HUD guidelines consider compensating factors that increase the likelihood of qualifying for a lower monthly mortgage.
Get Money Back in Your Loan When Refinancing with FHA
Make adjustable interest rate loans disappear
Consolidate mortgage and credit line and refinance into one loan with a lower mortgage payment
Refinance subprime mortgages
Uncover Opportunities to Save Money with Bill Consolidation
Rebuild your credit & Raise your Scores
Finance Home Improvements
Cash back refinancing with only 15% equity needed.
Helpful mortgage info for credit loan qualifications!
One of the best ways to raise your credit scores is to include your unsecured debts into your loan when refinancing. FHA mortgage refinancing allows consumers to refinance credit cards into the new mortgage. (85- 95% cash back refinancing depending upon mortgage payment history and debt to income levels.
Homeowners Across the U.S. Keep Coming Back for Our Cash Out Mortgage Loans
In most cases with home refinancing, your monthly payments will be reduced. If you are sick of being turned down because you have low credit scores, give Nationwide a try, because we offer second chance loans for people who want to consolidate debt and refinance with cash out.
Apply Online or Call our FHA Loan Department and Request Cash Refinance Requirements
- Check with a loan officer to get the latest version of guidelines for cash refinancing options with the Federal Housing Administration as interest rates are subject to change and product pricing may vary upon state, credit score and income documentation.
This is not an advertisement for credit. See Privacy for Details.
Nothing on this web site contains an offer promise either to make a FHA refinance or that any participating lender will guarantee any home loan for any purpose or on any specific terms. Loans cannot be made online or be approved without an underwriter analyzing your credit score, debt to income ratio and combined loan to value. This website has no affiliation with the FHA.