FHA Refinance Loans

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MLQ lenders announced new FHA refinance loans that allow cash out refinancing and consumer debt consolidation. We will help you find HUD approved lenders for FHA refinancing for homeowners who need alternative fixed rate refinancing. We will try and help you secure a refinance loan with FHA even if you have less than perfect credit. With a good job and a good payment history on your current mortgage, we can find you a low rate FHA loan that could save you money. Most of the MLQ lenders that are HUD approved offer both refinance and home buyer loans with FHA.

Get Approved for an FHA Refinance even if Your Credit Scores Are Low

My Loan Quote brokers and lenders provide several government loan products that enable people with low credit scores to qualify for a low fixed interest rate. We help consumers compare good and bad credit FHA mortgage lenders online. Some of these FHA lenders recently announced lower fixed mortgage rates since the Federal Reserve agreed to buy government loan backed securities. According to Zillow, FHA refinance rates have fallen to record levels on the 30-year fixed mortgages. Find out more about the new government refinancing plans that were recently released so discuss your eligibility with a loan officer tight away.

Compare FHA Refinance Loans with Fixed Interest Rates

FHA Refinance Loans

Our staff can help you understand the pros and cons of FHA home refinancing with bad credit, no credit and underwater obstacles.

My Loan Quote will introduce you to several trusted mortgage lenders who specialize in government loans like FHA and VA. Government mortgage programs offer competitive interest rates for borrowers who would normally have to refinance with a higher rate from a subprime lender because of their low credit scores.

It is important to know that FHA does not make loans or guarantee loans. The FHA insures government refinancing. The insurance minimizes the default risk that traditional lenders face when homebuyers put down less than 20%.

Bad Credit History OK with FHA Refinancing
If your credit history could be characterized as "less than perfect", FHA may offer an opportunity to get your finances back on track. Find out more specifics on bad credit FHA loans for refinancing. You may qualify for an FHA mortgage loan even though you have several recorded credit delinquencies. Some FHA mortgages enable fixed rate refinancing for borrowers who are late on their ARM. Ultimately a direct endorsed underwriter must sign off on mortgage refinance loans for bad credit, but the Federal Housing Administration continues to make exceptions for borrowers with credit scores as low as 500.

  • FICO credit scores are not counted
  • Bankruptcy OK! (If it has been at least 2 years since the discharge of your bankruptcy.)
  • Foreclosure OK. If you make your payments on time after a foreclosure, an FHA mortgage for bad credit could be available to you 2 years after your loan default.
  • Short-Sale: Yes in many cases government underwriters will approve bad credit FHA loans a few years after the borrower goes through a short sale if they have been able to reestablish their credit without late-payments.
  • Limited Trade lines: in some cases, FHA will allow borrowers to use alternative credit sources like energy bills, etc.

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Both the LA and New York Times published articles discussing the benefits homeowners have received this year since, the Department of Housing and Urban Development implemented a plan to lower the insurance premiums on FHA house loans. Did you know that mortgages insured by the FHA from non-bank loan companies have seen a rise in delinquencies? According to the Tines, "Only 0.9% of FHA mortgages issued by banks from October 2013 to September of 2015 were delinquent by several months They analyzed these findings with 1.1% of non-bank mortgages.

MLQ is dedicated to guiding homeowners get low rate mortgages regardless of their fico scores. We have received rave reviews from thousands of homeowners regarding our FHA refinance loans.

  • Lower Interest Rates with FHA
  • Fixed Rate Home Refinancing
  • Limited or No Credit Scores OK
  • FHA Streamline Loans
  • Underwater FHA Refinance
  • Cash Back FHA Loans
  • Poor Credit FHA Refinance
  • 15, 25 & 30 Year Fixed Terms
  • Fico credit scores starting at 500
  • No Closing Cost Refinancing
  • Bad Credit FHA Mortgages

Refinancing your existing mortgage is simple. Most FHA refinance loans are closed in less than three weeks. Many borrowers have credit scores that may be too low for most banks, but our mortgage lenders specialize in loans for people with less than perfect credit. Until recently, guidelines on "FHA refinancing" completely ignored fico scores. This government refinance loan encourages fixed rate refinancing for people with a range of credit scores. If you are late on your mortgage payments because your ARM reset with a higher payment, you may still get approved if you have other strengths the underwriter deems are worthy. Direct endorsed HUD underwriters have the power to approve FHA refinancing even if the borrower has a low fico score. Apply Now for a fixed rate FHA loan refinance.

Learn more on home refinance loans insured by the FHA