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rogers 05-27-2014 02:36 AM

Types of FHA loan
Are there any types of FHA mortgage loan?

VaibhavDhanawade 11-27-2015 09:43 AM

Re: Types of FHA loan
Types of FHA Mortgage:
- Fixed Rate FHA Loan
- Adjustable Rate Mortgage (ARM)
- FHA Secure Refinance Loan
- FHA Reverse Mortgage

fhaloanboise 12-25-2015 06:08 AM

Re: Types of FHA loan

Originally Posted by VaibhavDhanawade (Post 42581)
Types of FHA Mortgage:
- Fixed Rate FHA Loan
- Adjustable Rate Mortgage (ARM)
- FHA Secure Refinance Loan
- FHA Reverse Mortgage

That's a nice information regarding FHA loan..

eonlinemortgage 11-25-2016 05:21 PM

Re: Types of FHA loan
First Time Home Buyers

MicheleCooper90 12-13-2016 03:57 AM

Re: Types of FHA loan
1] Fixed Rate FHA Loan - Benefits those who would like to purchase a home but haven't been able to put money away for the purchase.
2] Adjustable Rate Mortgage (ARM) - Mortgage specifically designed for low and moderate-income families who are trying to make the transition into home ownership.
3] FHA Secure Refinance Loan - Helps when foreclosure is a threat.
4] FHA Reverse Mortgage - Designed for homeowners age 62 and older. It allows the borrower to convert equity in the home into income or a line of credit.
5] Energy Efficient Mortgage - Helps current or potential homeowners to significantly lower their monthly utility bills and incorporate the cost of energy efficient improvements into their mortgages.
6] Graduated Payment Mortgage - FHA loans for home buyers who currently have low to moderate incomes but expect them to increase substantially over the next 5 to 10 years.
7] Growing Equity Mortgage - Here payments start small and increase gradually over time.
8] FHA Loans for Condominiums - Specifically designed toward those who purchase housing units in a condominium building.

emortgageconnect 08-16-2017 02:26 AM

Re: Types of FHA loan
FHA Streamline
• You may be able to refinance your home with a lower rate and payment, even if you are under water. You may also be able to get out of (or in to) an adjustable rate mortgage. It’s up to you!
• All of this may be possible without increasing your loan amount AND you may even be able to avoid the typical loan processing times, or even having an appraisal done.
Our super-fast FHA Streamline (sometimes called the IRRRL or Interest Rate Reduction Refinance Loan) allows you to take advantage of the lower interest rate environment without the long and drawn out process that is typical for qualifying for a home loan.
Mortgage Insurance Refund
• Borrowers with FHA loans that are refinanced are sometimes entitled to a refund of their up-front mortgage insurance premium. This refund is going to be larger the sooner you refinance, so time is of the essence!
• The FHA will periodically update their mortgage insurance rates. This means that on top of saving on the interest rate, you may be able to save money each month on your FHA mortgage insurance (MI) rate.
If you are currently in an FHA loan, you may be able to significantly better your financial situation. Even if your loan amount is higher than your home value.
Net Tangible Benefit
• The FHA requires that in order to qualify for the FHA Streamline, the new loan must have a net tangible benefit. This ensures that the new loan must meet minimum government standards in order for the loan to close.
We are proud to offer this program, let us shop the interest rates and find you the loan that is right for you.

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