FHA Cash Out Refinance
An FHA Cash-Out Refinance is a first mortgage that does not exceed the Government FHA loan limit and maximum LTV for FHA loans in the property area . Typically, the standard cash-out maximum mortgage calculation is up to 85% of the home's value. Cash out" is defined when either cash-in-hand exceeds $500 or non mortgage debts/non seasoned liens are being paid at closing.
FHA Streamline Refinance
An FHA streamline refinance must result in a benefit to homeowner. In addition, a borrower cannot be delinquent on the current FHA loan. There can not be more than $500 in cash from the refinance and teh previous loan must be at least six months since issued. The new loan cannot increase from the original loan amount to cover closing costs.
FHA Rate and Term Simple Refinance
An FHA Simple Refinance is also commonly referred to as a Rate and Term Refinance. The Refinance will pay off the previous loan on the property and likely will also include the cost associated with the new loan.
FHA 203K Rehabilitation Loan
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Professional assessment
Once you request a rate quote our licensed loan originators will review your information and help assess what program may work best for your needs.
Competitive rates
After the review of your current loan and financial situation you will be able to determine if a refinance will work for you. Once the proper program is chosen and you decide to move forward, you will receive a loan estimate.
Customer Satisfaction Is Our Goal
Freedmont Mortgage®, a division of NFM Lending, has set the standard for trust, honesty, and integrity in the industry for nearly two decades. As one of the oldest licensed mortgage firms in the Mid-Atlantic area, we have the experience and reputation to assist homeowners and homebuyers in a variety of situations. We take pride in helping our clients and assuring they will gain a better understanding of the mortgage process.
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www.nmlsconsumeraccess.org. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. By refinancing an existing loan, total finance charges may be higher over the life of the loan. Programs rates, terms, and conditions are subject to change and are subject to borrower qualification. This is not a commitment to lend. The content on this website has not been approved, reviewed, sponsored, or endorsed by any department or government agency. © 2025. Consult your tax advisor for tax benefits or implications.
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