Financing in 95054>Question Details

Tony, Home Buyer in 95054

What about FHA loans for re-financing a home with lots of equity? Can we avail by this service? Also, will

Asked by Tony, 95054 Thu Apr 10, 2008

What about FHA loans for re-financing a home with lots of equity? Can we avail by this service? Also, will it guarantee a lower interest rate?

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Yes you can do a cash out refi with an FHA loan. You can go as high as 95% of the value of the home. Would you like to discuss this further?
I can be reached at 908-868-2021.
Best regards!
0 votes Thank Flag Link Sat Jun 14, 2008
How is your Fico score, and why would you like to transfer to an FHA loan. Without much more information it is hard to help you, but there are advantages and disadvantages like any other loan. Also Equity and Fico are not the major adjustment factors in FHA compared to Conventional. So if your fico is Lower than FHA might be a fit for you.

Good luck
0 votes Thank Flag Link Thu Apr 24, 2008
you have to pay additional cost for getting FHA Loan and also it is not always low interest with this loan.
So, you have to analize your situation first then loan officer tell you which one is fit for you, and cost effect!
I'm sure if you have lots of equity, conventional loan is get you lower interest!
Web Reference: http://www.edwardbyeon.com
0 votes Thank Flag Link Fri Apr 11, 2008
Hi Tony, please read my website at http://fhainsuredloans.net, which is moderated by Michael Campanaro of Wells Fargo. He can be reached at 908-868-2021 if you have any questions specific to FHA Loans.
Web Reference: http://pbaloans.com
0 votes Thank Flag Link Fri Apr 11, 2008
Dear Tony, I'm a loan officer and please know all FHA loans have a Mortgage Insurance component to them and are not usually a first option for a person with reasonable credit and lots of equity in a home unless they are in a high interest loan and can't qualify for a conventional loan. So, withthe information you provided I can't say you would would avail by this service but you may. 2. It would only guarantee you a lower rate if you are in a loan with an interest higher than 6% currently. Please know that it's the responsibility of the Loan Originator to determine the best loan option for you. Also, not all mortgage companie are FHA approved (audit check component), so usually an FHA aproved mortgage companay has a better reputation than those not approved. Good luck Tony, let me know if I ca help further.
0 votes Thank Flag Link Fri Apr 11, 2008
Tony,

I am providing you with a link to an FHA website. You may find the information that you are looking for there.http://www.fhainfo.com/Privacy.htm.

Good luck!
0 votes Thank Flag Link Thu Apr 10, 2008
HI Tony, you can email my mortgage partner, Michael Campanaro, as he has done over 700 FHA loans and has a website that is geared towards providing quality info for FHA and PBA loans. His email is Michael.Campanaro@wellsfargo.com and the website is http://PBAloans.com.
Web Reference: http://PBAloans.com
0 votes Thank Flag Link Thu Apr 10, 2008
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