Lower your rate, shorten the term of your loan, or take cash out from the equity in your property with a FHA Refinance
Shorten your term from a 30 year to 20 or 15
Use the equity in your home to take cash out to be used for upgrades, repairs, or just extra money
Available for High Balance loans
Up to 97.75% Loan To Value (LTV) for a rate/term refinance
Must have made at least six (6) payments on existing FHA Loan
As low as 580 FICOs ok
Upfront and monthly Mortgage Insurance (MI)
To refinance an existing FHA loan with a no appraisal loan, you may be interested in a FHA Streamline Refinance Loan.
If you are looking to remove Mortgage Insurance, consider a Conventional Refinance. No MI is required on LTVs below 80%. Additionally, If the LTV on your loan is 80% or higher when your loan closes, your MI can be cancelled once it drops below 80%.
