With ARM resets and subprime trouble creating greater burdens on homeowners, now is certainly the best time to put your marketing techniques for FHA refinances to good use. You have in your hands an excellent solution to their problems. Play your cards right and they’re sure to sign on the dotted line.
Benefits of FHA Refinances
Homeowners may be eligible to take out a FHA refinance loan even if their existing loan hasn’t been provided by the FHA. When a client agrees to FHA refinancing, let him know that he stands to gain several benefits.
Cash-Out Refinancing
This option is available to clients with new or existing FHA loans. When a client opts for cash-out refinancing, the available cash balance can be equal to ninety-five percent of the total value of his property. He is also given the choice to consolidate his first and second mortgages for easier and more convenient repayment. Other bills may also be consolidated similarly. Requirements on income and credit are easier to comply with and successful applicants can look forward to FHA-regulated closing fees.
Rate and Term Mortgage Refinancing
Now, if your client has an existing loan that hasn’t been provided by the FHA, he can still obtain refinancing with the […]

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