Absolutely ... FHA will finance 97.75% loan to value on a refinance transaction.. you still have to qualify, and you will pay monthly and up front mortgage insurance, but more than likely, it will still be less than your paying now to a private investor... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Probably. FHA does not care who the current financing source is. As long as you meet the current FHA underwriting criteria you could be approved. You will want to work with a local Mortgage Banker/Broker rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950
yes you can as long as you meet the other FHA guidelines
A loan with a private investor would be treated the same as any other loan. But the question is, Did the private investor execute the right paperwork to make this work for you in a refinance. I would be happy to review these documents to make sure this would be easy for you.
You sure can as long as you qualify with the FHA guidelines.I am located in Murfreesboro & would be happy to review options for you.Thanks Nancy RelefordHome Equity Mortgage, LLC615-867-3060
Chances of obtaining an FHA loan are good as long as everything else meets credit and income requirements. Also, if an appraisal can not support the value needed to secure funding for the home you will face challenges trying to obtain a new mortgage.
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