FHA Refinancing Options
Whether you have an FHA mortgage currently or a standard conventional mortgage, you have the option to refinance into a great FHA mortgage loan in Charlotte and save a ton of money!
One of the advantages of an FHA mortgage is the higher loan to value allowed. With an FHA mortgage, you can borrower up to 95% of the property’s value. For example, a home in Charlotte worth $200,000 could borrow $190,000 using a Charlotte FHA mortgage! With conventional mortgages, loan to value limits of 90% with no cash out and 75% with cash out can severely limit your options. An FHA mortgage in Charlotte allows much more flexibility in the amount you can borrow.
The other great news is in regards to interest rates for FHA mortgage loans. Charlotte is seeing tremendous rates and this even applies to FHA. Your new FHA mortgage rate could be much lower than your current mortgage saving you a ton of money!
So if you are considering refinancing your home in the Charlotte area, you should consider an FHA mortgage loan. Charlotte still qualifies for FHA mortgage limits of $271,050.00, so this means a lot of Charlotte homeowners could take advantage of this. Ask for more information today!
{{fha}}