Can a conventional home mortgage loan be refinanced using FHA?
I know that if a person already has an FHA loan, they may refinance using the FHA Streamline process. If a person currently has a conventional mortgage loan, can they refinance using FHA? If posible, can you please provide me the resource where I can read this information. Only if that's not to much trouble. I looked on the HUD website but locating that particular information was far to cumbersome. Thank you- You post your profile on this webiste and then lenders come to you. I recommend trying creditloansonline.com
- Hi Kevin, I think you will find some useful information on this site: fha. gov / owner / process. cfm Depending upon which state you're in, I am a licensed FHA lender and could ist you further with your inquiry and answer any questions you may have directly. Feel free to contact me and visit my website at: MortgageMetropolis.com
- Yes you can as long as you are within the FHA maximum loan limits for your state. Pres. Bush is going to try and raise the FHA loan limit to I think around $416, 000. 00 but not at this moment. The HUD web site is a great web site, you just are not use to using it. If you dedicate say 30 to 45 minutes on that site, you will more than likely find out a lot of information you will need to know any like did you know you will have an FHA MIP factor based on several things added to your loan amount? If you are not refinancing a Condo, you will have to pay monthly MIP premiums. It stands for Mortgage Insurance Premium. FHA insures the loan, in case of default. So if you really can not use that web site, call around and find a Mortgage Loan Officer who is knowledgeable in this field to answer your questions. If you find some information on the FHA website, make some notes for yourself, if the loan officer can not answer your questions, tell them thanks but no thanks and move on to another Loan Officer who really knows their stuff on Mortgages and FHA loans. Today a lot of loan officers know nothing about them about so many people have been put into Conventional ARM's, or other bad financing options, so if you can find one that's been in the business for 10 years or longer, you will have better luck. good luck too you
- yes you can but the correct answer is. you can financing a FHA mortgage, but ONLY up to 95% loan to value for refi's cashouts, and it depends on the COUNTY limits. not the state limits. They have county limits. not state limits. Streamline FHA refinance is for those who do not plan on taking money out, but those who just want a lower rate
Knowledge Base
How long will it take the latest 3 / 4% interest rate cut to affect the mortgage and loan companies rates?
with the fed's decision to cut interest rates, i understand that banks will follow suit and lower interest rates. how fast will it take for these changes to go into place? at what point should people begin to investigate refinancing their mortgages and other loans where it will actually reflect (home mortgage calculator)
Public Records Reading - Mortgages, Do home equity loans show or just reverse and second mortgages?
i read public records when doing re research so i am wondering. i guess that only second and reverse mortgages show. and why would someone choose a second mortgage vs home equity loan? are we saying that a home equity loan automatically shows as a lien?. all mortgages and liens (home mortgage loan)
Are there any banks that give mortgage loans to people with bad credit?
i am looking to buy my first home. my goal is to get to a 620 credit score but i know this will take quite some time. i was wondering if there are banks out there that give you loans to buy a home if you have bad credit or (mortgage equity loan)
Knowledge Base: Mortgage Loan
Are there any banks that give mortgage loans to people with bad credit?
i am looking to buy my first home. my goal is to get to a 620 credit score but i know this will take quite some time. i was wondering if there are banks out there that give you loans to buy a home if you have bad credit or (mortgage loan refinance)
What are the key factors in obtaining a home mortgage loan?
my credit is not bad or fair. it's good, just below excellent. how good does your credit have to be and what other factors are key to successfully obtaining a home mortgage loan?. hi ronnie, your credit has to be at least a 640, so i am uming you will (mortgage loan refinance)
can i get a bad credit mortgage loan?
i am having a home foreclosed on, and would like to know if anyone can give me a mortgage?. that's funny. probably not. it's tough to get a mortgage now even if you have good credit. have you contacted your mortgage holder and ask them if they can re - (home mortgage loan)
Can I use my current owned home as collateral on new home mortgage loan?
my family and i live in a home legally donated to us by my father. we have ownership. can we use this home as collateral for a mortgage loan on another home in another state? if so, how does that work?. is the home worth more than the home you (home mortgage loan)
Any advice on bad credit mortgage loans?
yes. do not bother since you will not qualify. you will only be wasting the application fee clean up your credit. you need at least a 620 fico to even apply for a fha loan; 720 for a conventional. you will also need to resolve any derogatory items on your (mortgage loan refinance)
Knowledge Base: Home Mortgage Loan
What would happen to your home mortgage loan in this case?
say if me and a co - buyer buy a home together both first - time home buyers, and get a conventional loan from a bank. if later, one of us wants to take our name down the le, would that be allowed? would the bank re - acess the (home mortgage loan)
Can a conventional home mortgage loan be refinanced using FHA?
i know that if a person already has an fha loan, they may refinance using the fha streamline process. if a person currently has a conventional mortgage loan, can they refinance using fha? if posible, can you please provide me the resource where i can read this information. only if (home mortgage loan)
Bachelor with kids can be approved for home loan mortgage?
i am a bachelor with 2 kids, i have been divorced for about 4 years now. my income is below 30000 annually. will they approve a home loan mortgage for a bachelor like me?. it will be harder because you have three mouths to feed. if you receive child support, (home mortgage loan)
what's the easiest bank to get a home mortgage loan from in florida? I am a first time buyer?
i am a first time buyer and am trying to get qualified for a home loan. i am scared that if i go to the wrong banks they will just keep runing my credit and lower my score so i want to go to one bank and run it only (home mortgage loan)
Can we get a home mortgage loan with poor credit?
my soon to be husband and i are renting a home in our area and paying $1100. 00 a month in rent. this is quite a bit for the area that we live in we are wanting to buy a home and feel that we have sufficient income around $90, (home mortgage loan)
