FHA Mortgage Loan Company- FHA Mortgage Rate, Refinance Loans

At FHA Mortgage Loan Company, our goal is to make purchasing your first home a simple, pleasurable exciting, and as hassle-free as the home mortgage process can be. We provide multiple services for FHA lenders.

FHA Streamline Refinancing Loans
Fixed-Rate FHA Mortgage Refinance
FHA Mortgage Refinance Loans
FHA Cash Out Refinance Loans
FHA Home Loan Update
FHA Home Loan Services

Finding a FHA Mortgage Lender
FHA Mortgage Lenders
FHA Mortgage Rates
FHA Mortgage Limits

Defining FHA Loan Terms

FHA mortgage: An insured government loan under Federal Housing Administration division created to ensure fair home financing across America.

FHA Secure: Unique mortgage refinancing opportunity for homeowners who were not delinquent on their mortgage payment prior to the loan adjustment period.

FHA Short Refinance: Borrowers with mortgage liens that are more than their home value may be eligible for the FHA underwater refinance program.

FHA Streamline: HUD automated the refinance process for existing FHA customers seeking a lower interest rate with no cash involved.

FHA Bridal Registry Loans: The FHA Bridal Registry loan program allows a couple to register with a HUD approved FHA mortgage lender. Friends or family can make gift donations into an account that bears interest and can be utilized for a down-payment when financing a new home with a FHA mortgage. Government refinance loans can be part of a great wedding present.

Home Financing Advice from FHA
FHA Mortgage Calculator
FHA Loan Blog

FHA now has a requirement of a minimum 500 FICO for loan to values greater than 90%. Borrowers with less than 500 FICO credit scores have a maximum LTV at 90%.

FHA Home Loan Update

FHA mortgage guidelines only require homebuyers to come up with a three percent for the down-payment. In most cases, borrowers with poor or fair credit scores will only qualify for high interest sub-prime mortgages, but FHA has changed all of that. With the FHA loan program for 1st time homebuyers, qualify for a market low FHA mortgage rate that is fixed for 15 or 30 years becomes standard. Find out if an equity loan is the right choice when planning to make some home improvements.

Do you know how much of a loan you qualify for?

We are here to answer your home loan questions and direct you towards the best mortgage solution. With our FHA mortgage expertise, you will gain a better understanding of what FHA mortgages can offer and how they compare with conforming and sub-prime loan alternatives.

Has your interest rate adjusted making your payment rise?

FHA mortgage loans have made a recent com-back to the forefront of mortgage lending. Suddenly after almost disappearing a few years ago, FHA has taken back a giant market share with new homebuyers and existing homeowners looking to refinance their adjustable rate into a better fixed rate mortgage. After new legislation passed in 2008, thousands of homeowners are eligible to eliminate their variable rate mortgage with a variety of FHA refinance programs.

Why a Lending shift from conventional loans to FHA loans?

Conventional loans made by banks and lending institutions that are packaged and sold to Fannie Mae and Freddie Mac are on the decline because of the recent surge in foreclosures. Investors are now wary of investing in mortgage-backed securities (MBS)--the loans packaged and sold by Fannie Mae and Freddie Mac--as a result of the huge losses they have suffered at the hand of the demise of the subprime and Alt-A loan markets. Because investors have such a decreased interest in mortgage-backed securities, lenders have been getting stricter and stricter with their qualification requirements. Now, you need a credit score of at least 660 if you're putting a 20% down payment on a home and a FICO score of 700 if you can't come up with at least 20% down.

FHA Guarantees Fair Lending

Most mortgage analysts agree that the FHA mortgage loan will be focal point for home financing options for many years to come. FHA guidelines could tighten as loan defaults rise, so lock into a low FHA mortgage while the programs are available. Most politicians, economists and bank executives agree that real estate finance requirements will increase dramatically in the next few years.

FHA faced many obstacles in 2010 and 2011, so the Department of Housing and Urban Development embraced the new challenges with a goal of improving and revamping FHA refinance programs. HUD has said in several reports that they "remain focused on improving FHA home loans for consumers, while increasing the accountability and FHA requirements for mortgage companies that offer FHA loan programs." Read the original article> Are Low Rate FHA Refinance Loans Getting Better?

FHA guarantees the mortgage for each FHA loan. There are many advantageous to buying or refinancing your home with a FHA mortgage. The interest rates are fixed for 15 or 30-year terms with no penalties for early pay-off or refinance. Mortgage lenders like FHA mortgages because our government guarantees the loan, in case there is a payment default or foreclosure.

Similarly, the level of conventional to FHA refinance endorsements has increased 260.8% on a year over year basis. Based on the MBA survey, application volume for government-insured loans was up 133.9 percent in July from a year ago, while application volume for conventional loans was down 50.2 percent, evidence of a shift from conventional to government-insured mortgages.

FHA mortgage financing has taken over the market-share for subprime mortgages in 2009 and the popularity with this government program will continue in 2011 and 2012.

Brochure for Fair Housing Equal Opportunity - New Home Buying

Most down-payment assistance programs have vanished from lending portfolios, but there may still be opportunities on a local level.

The Current FHA Mortgage Rates Ensure Affordable Housing

FHA announced a variety of new home purchase and refinance initiatives to help lower the number of foreclosures. The FHA loan programs range from a forbearance plan for unemployed borrowers, to a plan encouraging principal reductions, to a FHA refinance option. “Importantly, there are many details of the FHA guidelines that were clarified.” Green said. Read the original article > FHA Mortgage Loan Programs Expand

FHA mortgage loans are backed by the government lending institution, the Federal Housing Administration which was created by Housing and Urban Development, also known as HUD. FHA provides mortgage lenders with insurance for each FHA loan transaction. The FHA loans were created in 1934 to ensure fair lending for all Americans. Today FHA continues to provide affordable low rate mortgage loans to borrowers with all types of credit.

FHA Streamline Refinance When Interest Rates Drop

The Mortgage Bankers Association reported that of the "mortgage applications accepted during the same month last year, 29.1% were for FHA mortgage loans compared to 8.4% in July 2007."

HUD announced that 2011 FHA loan limits would remain at 2010 levels, but they are set to expire shortly. Many lenders and loan professionals fear that the Federal Housing Administration will slash FHA loan limits. This would reduce the pool of new home buyers and potential borrowers looking for a refinance. FHA also introduced a new loan modification for FHA borrowers whose mortgage balance exceeded the property value.

HUD began taking action to combat the foreclosures and the rising FHA loan defaults. Unfortunately, too many FHA lenders have used FHA as their subprime replacement. They are looking to tighten guidelines for lenders who offer FHA home loan products.

At first this may not seem like much of a concern for borrowers, but in fact if you need a FHA mortgage you could be impacted negatively. Read the entire article > FHA Lenders Face Tougher FHA Loan Requirements