Because of the low down payment an FHA loan is one of the easiest mortgage loans to qualify for, giving it a large appeal for first time homeowners. The FHA loan is also great for persons who may have low credit, which would normally stop them from obtaining a loan from a bank. Even though they do accept lower credit ratings, to avoid a denial it is imperative you seek out a Consumer Credit Counseling program. A credit counselor can aid you in making a plan for payments, and assisting in figuring out where you may have gone wrong in the past when facing your credit issues.
To apply for FHA refinance loans there are several things you will need for your application:
-Any address where you have lived in the previous two years
-Employer’s information from the previous two years
-Salary received in the last two years
-W2’s from the past two years
-Income tax forms you have submitted for the last two years
Having all of this information handy will create a speedy application process and will help you receive your results at a much faster rate.
If you are looking to pre-qualify for an FHA loan, you need to be able to show proof of several things...
... middle of paper ...
...If this does not sound like an appropriate option for you streamlining may be a better option.
When looking to refinance your home look into all that the FHA has to offer. They are able to provide you with options, it is important that you find one that will fit your life appropriately. But choosing either to streamline or to go with the rate and refinance option you are able to reduce payment and create a payment program that works for you. When applying make sure you have all the materials requested, making sure that your application time is speedy and simple. If you want to make sure to avoid denial, make sure to get a financial debt counselor that will be able to further assist you with your needs, and any questions you may have. When looking to refinance your home look into the Texas FHA, they may have just the refinance options you are looking for.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- As a newcomer to the world of home buying in the state of Texas, it’s important to do research on loans and mortgages. Maybe you’re fed up with making rent payments or maybe you’re newly married and ready join the ranks of being a home owner. Put simply, you know you don’t have a lot of money and homes that need some repairs or updating are the only homes in your price range. This situation may seem less than ideal, but is one that many people are finding themselves in. Fear not, this is the age of do-it-yourself.... [tags: loans, mortages, home owner, fha]
707 words (2 pages)
- Organizational Description Rocket Home Loans (RHL) was founded in 1990 as a private lending institution. We specialize and focus only on retail mortgage products providing financing for the American dream of home ownership. The company is located in Dover, Delaware and employs 165 people. Our goal is to make the home buying and refinancing process easy. Our mission is to “Keep It Simple”. The process doesn’t have to be difficult and time consuming. Less is more. It’s all about clear products, plain language, fair prices and simple processes.... [tags: Employment, Blue Cross and Blue Shield Association]
875 words (2.5 pages)
- Foreclosure is a dangerous issue that has swept our nation in the last few years. Americans are losing their homes due to jobs being lost, home values falling, and banks lending out more money than homeowners can afford. Despite the multitude of issues that arise out of foreclosure, the main problem at hand can be almost solely traced to the economy. The recession has put many people out of work, made taking out loans more difficult, and has caused a nationwide panic. Therefore, to completely solve the foreclosure problem, it is necessary to trace the issue back to its roots, being the economy.... [tags: foreclosures, refinancing,]
1585 words (4.5 pages)
- Over the past several years, members of Congress and the Department of Defense (the Department) were notified about the negative effects exorbitant high interest payday loans were having on service members and their families. In 2006, the Department made a report to Congress Senate Banking Committee tilted “The Report of Predatory Lending Practices Directed at Members of the Armed Forces and their Dependents.” This study explored the pitfalls and the ramifications of exorbitant high interest payday loans directed at service members and their families.... [tags: Payday Loans]
1209 words (3.5 pages)
- Democrats, Republicans, and Libertarians are perhaps three of the most prominent political parties within Texas. Within the pages of their party platforms, we see that each possesses a unique philosophy, with specific viewpoints and recommendations for shaping or reforming government policy. To be sure, the people of Texas face many challenges, two of the most compelling issues being the crisis in healthcare and in education. Not only are we lacking in these areas as Texans, but also on the national level.... [tags: Texas]
1565 words (4.5 pages)
- FHA mortgage loans are part of a nationwide lending program that allows Americans who may not qualify for a conventional mortgage to purchase a home. The Federal Housing Administration, more often known as FHA, is run by the United States Department of Housing and Urban Development (HUD). An FHA mortgage is an attractive proposition for anyone who qualifies for the opportunity to make a lower down payment and to pay reduced closing costs, when purchasing a home. These are just part of the deal you get with an FHA mortgage.... [tags: fha loans, mortgage, housing loans]
696 words (2 pages)
- ... The American eel has a slender snakelike body with very small scales, and the fish may appear naked. A long dorsal fin usually extends for more than half the length of the body and is continuous with a similar ventral fin. Pelvic fins are absent. The back may be olive-green to brown shading to greenish-yellow on the sides and light gray or white on the belly. Location – TAMUG Fishing Pier 29°18′56″N 94°49′03″W Distribution – The American eel occurs in a variety of habitats. Known from Greenland to Brazil, it probably spans a wider range of latitudes than any other species in North America.... [tags: Texas marine species]
1558 words (4.5 pages)
- We are often are asked when is the optimal time to refinance a commercial real estate loan. Many factors such as market interest rates, prepayment penalties, existing loan terms and the overall goals of the borrower come into play. There are however no set answers, but below are some real world thoughts on how you might analyze your own commercial refinance. Traditionally, the analysis to keep an existing loan in place or to refinance into a new commercial loan can become very complex. Financial advisors like to use the Discounted Cash Flow method which essentially compares the two loans on the Net Present Value basis.... [tags: Loan, Debt, Mortgage loan, Interest]
944 words (2.7 pages)
- Thesis: The nine years of Texas’s independence were long and seemed to be dragged out. Were those nine years unnecessary and could it have been done in a shorter period of time. 13 October 1834 was the first revolutionary meeting of the American citizens who’d settled in Mexico, in the area soon to be known as Texas. The people attempted a movement that soon was laid to rest by the Mexican Congress. Attempts at independence were silenced for the time being and the elections of 1835 proceeded forward.... [tags: Texas Independence]
1058 words (3 pages)
- Borrowers flooded the Department of Education and lenders with phone calls as they rushed to beat the deadline to consolidate student loans before interest rates rise. The variable interest rate on federal student loans will rise nearly 2 percentage points after midnight Thursday. Some borrowers could save thousands of dollars over the lives of their loans by consolidating at the lower rate. The unusually sharp increase has prompted a wave of last-minute inquiries, causing back-ups for banks' 800 numbers and at the Department of Education's Direct Loan Servicing Center, where at least some calls weren't getting through Wednesday.... [tags: essays research papers]
405 words (1.2 pages)