FHA Mortgage Refinancing Guaranteed Approval With Bad Credit

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If you are considering the FHA refinance home loan, there are several factors you
want to keep in mind first. One of the most important factors is the reason you want
to refinance, but this is not the only thing you want to consider.

Choosing the Best Method for Refinancing
If you have an FHA loan you have several options available if you wish to refinance.
The easiest and most common method for those who wish to refinance an FHA home
loan is the FHA streamline refinance. This type of refinance is only available for those
who already have an FHA mortgage, and according to Real-Estate-Yogi.com, other
provisions of this refinance option include the following:
* No credit report or income verification is necessary
* Homeowner must have a good payment history with the FHA over the past year
and excellent history over the past ninety days
* There must be a valid reason for the refinance
* Homeowner cannot increase the balance of the loan in order to cover any
associated fees
* No appraisal necessary; FHA uses the original purchase price as a guideline

Those who wish to incorporate the closing costs into the loan do not qualify for the
no-appraisal streamline refinance but can apply for a regular streamline refinance.
For more information on this and other refinance options for your FHA mortgage fill

out the contact information form online, and one of the Real Estate Yogi experts will
contact you shortly.

Qualifying for a Refinance
How do homeowners qualify for an Refinance FHA Home Loan? Except for the no-
appraisal streamline refinance, there is little difference between the FHA refinance
and a refinance of any other type of mortgage loan. However, the credit provisions
may vary with the FHA having a tendency to be more lenient. Lenders of conventional
mortgages sometimes do not require credit history or income verification as long as
there is sufficient equity in the house. Of course, those who are looking to add closing
costs to a streamline refinance will not qualify for the no-appraisal option and will
have to go through the complete application process including appraisal and credit
Understanding the Provisions of a Streamline Refinance
Before homeowners apply for the FHA Streamline Refinance Mortgage, it's important
for them to make sure they understand the provisions. When a homeowner
understands just what the initial requirements are it will prevent him from
attempting to apply for a refinance under this program if he doesn't qualify. This
saves time for not only the FHA but the homeowner as well, especially since the
purpose of the streamline refinance is to speed the process.
The best way to refinance an FHA home loan is using the no appraisal streamline
refinance. Qualifying for this FHA home loan refinance program is quick and easy for
those who use the no appraisal option. The provisions of the streamline FHA home
refinance program are designed specifically for those FHA borrowers with a good
payment history. You need to keep all of these things in mind if you are looking to
refinance your FHA home loan.
Refinancing your FHA home loan can be a very simple process for those who qualify
for the streamline program. In order to find out if you may qualify for this program
take a few minutes to read through the information you find on www.real-estate-
yogi.com. If the website doesn't provide the answers you need, call 1-800-987-1397
to schedule your free consultation.