If you’re looking to refinance your home, and you’re considering an FHA mortgage, you should keep in mind that the FHA sets maximum loan amounts based on your county. Before you apply for an FHA loan, it’s important to ask whether the maximum loan amount in your area is high enough to meet your needs.Read more
FHA loans have more flexible credit and income requirements than conventional loan programs. This means that if you’ve had credit difficulties in the past or your cash flow is limited today, you may still qualify for an FHA mortgage. Don’t let your concerns about credit or income stop you from applying, because you could be eligible nonetheless.Read more
An FHA loan is a mortgage that is insured by the Federal Housing Administration. This program benefits both you and your lender. Because lenders are protected from risk, they can lend money to borrowers with lower credit scores or fewer assets.
This benefits you because it means that you may qualify for a mortgage even if your credit history is less than perfect. With an FHA loan from New Day Financial LLC., you may be able to refinance your home even if you don’t qualify for other loan programs.Read more
A cash out FHA refinance is one of the best ways for you to access the equity in your home. Equity is the amount of paid-off value in your home, or your home’s value minus your current mortgage balance.
For example, if your home is worth $200,000 and your mortgage balance is $100,000, you have $100,000 of equity in your home. If you need money for education, home improvements, or any other expenses, an FHA loan could help you turn equity into cash in the bank.
Your home’s equity is powerful—put it to work with an FHA cash out refinance.Read more
If you need cash for your family and home, an FHA cash-out refinance from New Day Financial LLC. is an excellent option. Your home may be the most valuable asset you have, and an FHA cash-out refinance could help put some of that value back into your bank account. An FHA cash-out mortgage will enable you to access your home’s equity and turn it into cash for renovations, weddings, vacations, college tuition, or anything else you need.Read more