Florida FHA Refinance Loan Programs

With Florida mortgage rates and housing prices stabilized, a refinance loan using the FHA program from Hallmark Mortgage Services can make tremendous financial sense. Just some of the many benefits of refinancing using a Florida FHA loan include;

• Low Fixed or Adjustable Rate Mortgage Options;
• Flexible Loan Terms
• Extended Mortgage Protection Through HUD
• Cash Out Options
• New Pre-Foreclosure Solutions For Conventional and Sub-Prime ARM Loans

As a full-service and knowledgeable Florida mortgage company with a diverse portfolio of attractive mortgage programs from the FHA, we pride ourselves on providing custom solutions tailored around the needs of our mortgage customers.

If you are eligible for a Florida FHA Loan Refinance, you could not only save money both short-term and long-term, you can even ask us to adjust the duration of your FHA loan to meet your changing circumstances. Our loan consultants are always standing by to speak with you and can provide a no-obligation eligibility assessment. Call today - 1-866-358-2898 or just use our quick mortgage application to learn more!

The Advantages of an FHA Home Loan Refinance

Through the years, the Florida FHA loan program has received a very undeserving reputation. This reputation stems from many area's. Here are just a handful;

• Mortgage Professionals Not Adequately Trained In The FHA Program
• Mortgage Firms Not HUD Approved and Motivated To Keep Potential Clients from Using The FHA Loan
• The Sub-Prime Market (Bad Credit Lenders) Who Lose Business When Borrowers Use The FHA Loan Program

The fact is, there are many distinct advantages and benefits of refinancing the mortgage on your existing home through the FHA. Many, as provided on our refinance page, are no different than what you would receive via a more traditional Florida refinance loan. In the end, refinancing with a HUD backed FHA loan is really all about getting the added safety a government insured loan. Give us a call today at 1-866-358-2898 or use our quick mortgage application to learn more.

Reduction in Monthly Payments With FHA Refinancing

Since the FHA Loan Refinance program is a HUD-sponsored initiative from Uncle Sam, it is not profit-oriented. It is designed to help home buyers become Home Owners and enjoy the bliss of long-lasting home ownership. Therefore, there are no penalties imposed by the FHA when you refinance at a lower interest rate to reduce the amount of your monthly mortgage payments. Your present mortgage doesn't even need to be an existing FHA loan!

Relaxation in Credit and Income Requirements

Not everyone has a stellar credit history. At Hallmark Mortgage Services, we take this into consideration when we evaluate your FHA eligibility. If you are a credit challenged Florida homeowner with a marginally bruised credit history, chances are you can still qualify for our FHA loan refinancing! Why? Because the credit and income requirements are not as stringent in this program when compared to traditional mortgage refinancing programs.

Seamless Transition; ARM to a Fixed Rate Loan With FHA

The FHA Loan Refinance program from Hallmark Mortgage Services enables you to easily refinance from an Adjustable Rate Mortgage (ARM) to a Fixed Rate loan when the Rate environment is most favorable to you. Our loan consultants at Hallmark Mortgage Services can assist you with this simple and seamless streamline refinance and, most importantly, tell you if it is in your overall financial interest. The FHA Loan Refinance program is intentionally structured to help you make this transition with minimal expense. Call today to learn more; 1-866-358-2898 or just use our quick mortgage application!

Adjustable Duration of the Loan

The duration of the FHA loan can also be structured to suit your needs. This adjustment can be performed not only during the commencement of the loan period when your loan application is being processed but also when the loan is in place and you have already made a few payments. Most conventional refinancing programs do not provide this level of flexibility.

Consolidating Mortgages With FHA Refinancing

A unique feature of the Hallmark Mortgage Services FHA Refinancing Loan program includes the ability for homeowners to securely consolidate first and Second Mortgage loans into a single loan package. This can eliminate the higher interest rate and loan payment for your second mortgage and helps you to restructure the new loan with only one low monthly payment. The monthly savings can be rather significant for you.

Cash-out Refinance Options

Many homeowners believe that this is by far the most significant advantage of the Florida FHA refinancing program. The FHA program enables you to exercise a cash-out option so that you can pay off bills such as a credit card debt or other secured and unsecured obligations. Regardless of your needs, you can take advantage of your equity to eliminate excessive payments and improve your household cash flow.

Cap on Closing Costs

The typical closing costs for a Florida FHA Refinance loan can actually be lower than the closing costs of conventional mortgage refinancing programs. The fact is, closing costs are regulated by the Federal Government and are monitored by FHA. As a result, you can expect to save on closing costs as well, which typically do not exceed 3-4% of the appraised value of your home. In most cases, the closing costs can actually be added to the amount being refinanced.

Bankruptcy or a Foreclosure Impacts With The FHA Loan

A bankruptcy or a foreclosure does not ruin your eligibility for our Florida FHA loan program with Hallmark Mortgage Services. FHA guidelines ask that you wait for at least two years after a bankruptcy and three years after a foreclosure to set your financial house in order before you apply. In some circumstances, we can assist homeowners and home buyers who have unique compensating factors which resulted in a bankruptcy or foreclosure. Call a Hallmark Mortgage Services FHA loan professional at 1-866-358-2898 or use our quick mortgage application for further information.

Streamline Refinancing Program from the FHA

In the eighties, the Federal Government overhauled the FHA Loan Refinancing Program in order to further simplify the documentation and underwriting process thus making it more transparent and easy to administer. The net result? You no longer have to lose your way in a sea of documentation. At Hallmark Mortgage Services, we have implemented our own processes which makes the loan refinancing process even more user-friendly and easy to navigate. Plus, you will always have your own loan consultant to help you with the paperwork and the various options offered by the FHA program. For more information on the Florida FHA refinance programs offered by Hallmark Mortgage Services, just give us a call at 1-866-358-2898 or use our quick mortgage application for a no-risk consultation!