What many people don’t realize is the FHA loan can be a great refinance loan.  Starting around 2008, the appraised values of properties in the U.S. started to fall nationwide.  When the interest rates dropped due to the economic situation and government intervention, many rushed to refinance their homes.  Unfortunately, many found their homes had dropped in value to a level that exceeded the guidelines allowed for a Conventional refinance.  However, many that had an existing FHA loan qualified for the Streamline Refinance program and were able to refinance to the lower rates.  And for many of those that did not qualify under Conventional guidelines, an FHA loan allowed them to benefit from the lower rates as well. 

The key is you need to have your available options presented to you side-by-side so you can make an informed decision.  Don’t rely on hearsay and rules of thumb when you are making large financial decisions.  Take time to look at the numbers and work with someone you trust that will explain them to your satisfaction, then make the best choice for your personal situation.  Churchill Mortgage would be happy to assist you in this process. Contact one of our Home Loan Specialist at 1-888-562-6200 or Request A Call Back on our website www.churchillmortgage.com and we will contact you at a time that is convenient for you.