What are the advantages of FHA Loans versus Conventional Loans?
FHA-insured loans offer many benefits and protections that you won’t find in other loans including: FHA Loans are Credit Flexible FHA loans are not totally credit score driven. Instead, they are written in a way that provides the borrower the benefit of the doubt that there had been, at some point in their past, circumstances beyond their control, and as long as the borrower has recovered from those circumstances in a reasonable manner, they’re generally going to be credit-eligible for an FHA refinance loan. FHA Loans have Great Interest Rates and Low Monthly Mortgage Insurance A distinct advantage of an FHA insured loan, as compared to a conforming loan, is great interest rates and lower monthly mortgage insurance (MI). Depending on the program, standard FHA loan interest rates are usually better than a conforming 30-Year Fixed loan. FHA Loans Require a Less Home Equity or Cash FHA Refinance Loans have as low as a 3.5% cash or home equity requirement for refinance and the money can co
