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- when should you refinance an fha loan
- should you refinance an fha loan
- when should i refinance my fha loan
- when can you refinance an fha loan
Fha streamline refinance rates.
Refinance fha loan reddit
Can I Refinance an FHA Loan? What You Need to Know
If rates have dropped since you closed on your government-backed FHA loan, you’re likely asking yourself “Can I refinance an FHA loan?” The short answer: Yep.
The long answer: Let’s delve into whether refinancing your FHA loan is the smart choice for your situation, and what you need to make it happen.
Should I refinance my FHA loan?
Refinancing (of any kind) is essentially just paying off one loan by getting another loan.
The rule of thumb is that if you can benefit from a refinance, either by getting better loan terms or a lower interest rate, you should consider doing it. There are plenty of great reasons for homeowners to refinance their mortgage, including:
- Lowering their monthly payment
- Paying off their loan sooner
- Switching from an adjustable-rate loan to a fixed-rate loan
- Tapping into home equity to take cash out
If you’re looking to take advantage of a lower interest rate, better loan terms, or get cash out, you should consider a refinance.
What are my FHA refinance options?
If you want to refinanc
- when to refinance an fha loan
- when can you refinance an fha loan to conventional