The federal housing administration (fha) and the U.S. Department of Veterans Affairs (VA) offer refinance products. fha refinance loans and VA refinance loans allow homeowners the option to reduce payments or loan terms, and they have more flexible qualification requirements than conventional loans.
Streamline refinance refers to the refinance of an existing FHA-insured mortgage requiring limited borrower credit documentation and underwriting. Streamline refinances are available under credit qualifying and non-credit qualifying options.
Fha Home Loan Qualifications The FHA loan requirement guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment. basic fha loan requirements for 2015. Two Years of steady employment, preferably with same employer.15Yr Fixed Mortgage Rate Historically, the 15-year mortgage rate reached upwards of 8.89% in 1994 and reached a trough of 2.56% in 2013. US 15 Year Mortgage Rate is at 3.18%, compared to 3.16% last week and 4.04% last year. This is lower than the long term average of 5.44%.
Reverse Mortgages FHA Loans and HUD Homes How to Get a Mortgage Mortgage Refinancing. Refinancing your mortgage allows you to pay off your existing mortgage and take out a new mortgage on new terms. You may want to refinance your mortgage to take advantage of lower interest rates, to change your.