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Refinance Loan Resources Page

If you are considering getting a Hard Money Refinance or just an FHA Home Loan, there are several things you should know that will help you when you refinance your home loan. These things include what you DO and DO NOT need when trying to refinance that FHA home loan, and a few of the requirements.

Things to Know Before Refinancing a Home Loan

About the FHA Home Loan Program

Your FHA Home Loan is insured by a government agency. When you are considering refinancing, you should know that you have already done the hard part by getting the loan the first time. The refinance is a much easier process. As long as you have an existing FHA loan, and you have been making your mortgage payments on time, you should qualify. If you do NOT have an FHA home loan, you can apply for a non-FHA home refinance loan.

Things you don't need to refinance your home loan

Much of the difficulty in obtaining a home loan of any sort is all of the paperwork that you have to collect so that the lender can make a decision. With a Refinance, you DO NOT need to qualify, there is NO need for an appraisal unless you want to wrap the cost of closing into the loan. You DO NOT need great credit for a Refinance, there's NO income verification, NO asset verification, and you usually don't need any cash for closing!

Things you will need to refinance your home loan

When you go to get your Home Refinance loan, you'll need a few things to make the process go smoothly. You'll need your note from your existing loan, your home insurance information, and something with your Social Security number. To complete the home Refinance loan, you'll need page one of your Home Loan application, and your current coupon or payment book for your home.

Requirements for refinancing your home loan

Although the home Refinance loan is very easy, there are some requirements. The lender will look to see if you have been making your current payments on time. They will also look to see if you have already paid 6 months or more on the current loan. One of the requirements of an FHA Refinance is that you occupy the home that you wish to refinance with the FHA Refinance.

If you are considering an FHA Streamline Home Loan Refinance, remember that there are a variety of different lenders you may use. Even though these loans are insured by the government, they are not originated by the government. We will search to find a mortgage company who will offer you the best plan. Some companies will offer lower rates than others, but beware of hidden closing costs they may charge. Other companies may have a slightly higher rate, but may do a "no cost" refinance for you. We will weigh all options before choosing your lender.


Additional Home Loan Refinance Resources:
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