The reason the FHA standard loan is the smartest choice in comparison with most other Henderson home loans is because FHA standard refinancing is a secure home loan that is insured by the Federal Housing Administration. By having a loan insure by a U.S. government agency that operates within the Department of Housing and Urban Development, the FHA standardized loan is able to provide the mortgage rates henderson borrowers can afford.
The FHA Standard Refinancing Loans Are Fully Insured
Because FHA standard refinancing loans pay for insurance, locals can more easily access the mortgage rates Las Vegas lenders will provide since they are protected if borrowers should home owners default.
Some Facts You Should Know Before Choosing FHA Standard Refinancing
- The FHA standard refinancing program is suited to the homeowner who is looking to refinance their primary residence and wants refinancing up to 97.75% of their primary home’s value.
- The FHA standard refinancing program is offered to homeowners with a credit score that is less than 720.
- The FHA standard refinancing program offers refinancing up to 97.75% only as far down to a credit score of 620.
- All FHA standard refinancing programs require monthly mortgage insurance no matter what the borrowed amount turns out to be.
- The FHA standard refinancing program requires an appraisal for all loan approvals.
The Benefits of Choosing the FHA Standard Refinancing Program Offered by Floor Rate Mortgages
The reason so many Las Vegas residents enlist the help of a local Henderson mortgage company such as Floor Rate Mortgages, L.L.C., is simply due to the fact that they provide the most personalized customer service in town. The professionals at Floor Rate Mortgages will tell their clients who qualify for FHA standard refinancing that it is definitely the most secure loan for them to choose. The FHA loan will offer them the lowest down payment requirements and have far more lenient lending standards than most other loans available to them.