Congress created the Federal Housing Administration (FHA) in 1934. The FHA became a part of the Department of Housing and Urban Development’s (HUD) Office of Housing in 1965.
Since then, over 34 million people have greatly benefited from FHA loan assistance. Making a difference in becoming a homeowner or comfortably maintaining ownership. What does this mean to you?
If you have had time to build equity in your home, you may be able to do an FHA cash-out refinance.
- Look into getting some cash to complete some home improvements while possibly lowering your monthly mortgage payment or only increasing it slightly
- Maintain a low fixed interest rate
- Get equity out of your home up to 85% of its value
- An FHA cash-out refinance is a much better way to get money for improvements than using credit cards
- Credit requirements are much more flexible than a typical bank/credit union loan
- Upgrading your home increases its property value
Click here for some simple and inexpensive home improvement ideas.