FHASecure is a new FHA mortgage
refinancing option enacted on August 31, 2007 to assist home owners
who are now facing a mortgage default or foreclosure due to the
mortgage payment adjustment of their subprime loans.
Who Should Use the FHASecure Refinance
If you are match any of these statements, the
FHASecure Loan maybe able to help you.
- Currently late and behind on mortgage
- Interest rate increase has caused you to go
into mortgage default or foreclosure?
- Have little or no equity in your home?
If any of the above is your current situation,
then the FHASecure loan may allow you to refinance your home at
competitive mortgage rates even if other mortgage lenders have said
no. Below is the FHASecure loan qualification guidelines.
FHA Secure Refinance Program Guidelines
In order for homeowners to qualify for the FHA
Secure home loan refinance, you must meet all of the following five
FHA Secure refinance criteria:
- Your mortgage interest rate must have or
will reset between June 2005 and December 2009.
- You must have three percent cash or three
percent equity in the home.
- You must have a credit history of on-time
home mortgage payments before your mortgage teaser rates expired
and home loan reset;
- A sustained history of employment for last
- Sufficient income to make the new FHA
Secure mortgage payment.
- New mortgage loan amount cannot exceed
current FHA loan limits.
The new FHA Secure refinance program will
require an escrow impound account for property taxes and insurance
as well as FHA MIP - mortgage insurance premium to be included in
new mortgage payment.
All FHA Secure home loans will not have any
mortgage pre-payment penalties as is traditional with FHA loans.
If you meet the required guidelines you may
request additional information regarding this FHA Secure loan
If you know of any family, friends, or
co-workers that my be benefit from the FHA Secure mortgage program, let them know by
Email this page
FHASecure Refinance Program Information Request
Please complete the following FHASecure loan
information request and we will contact you within 24hrs. on FHASecure
refinance program availability. (excluding weekends). You will be
automatically redirected to our home page. If you want to get
pre-approved online for the FHASecure refinance, please go
View original press release from
HUD regarding this program.
*FHA Loan Limits vary by area.