Licensed in the State of Florida


FHA Refinance

FHA Refinance


FHA allows up to 97.75% loan-to-value.

Generally, a borrower who has made timely payments for the last 12 months serves as a guide and demonstrates their willingness to repay future credit obligations. New FHA Policy changes require minimum credit score to be 580 for 97.75% loan-to-value and anyone refinancing with a score lower than 580 will require 90% loan-to-value. These credit score requirements went  into effect in the spring 2010. However, individual lenders will still require credit scores higher than 640.

A perfect credit score is not needed for an FHA loan approval. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an FHA loan than a for a conventional loan. Sometimes scores down to 500 are accepted if there are compensating factors that offset the credit risk

Rate and Term Refinance

This is the lowest rate in over 50 years according to Freddie Mac. FHA has more flexible underwriting guidelines compared to conventional loans.

FHA streamline provides a way for current FHA homeowners to lower their interest rate with little or no out-of-pocket costs. These loans can also be made faster and with less documentation than a typical loan. "No Cost" Streamlines let you refinance your mortgage with no out-of-pocket expenses.

Cash Out Refinance

Cash out refinance refinance allows homeowners to refinance their existing mortgage by taking out another mortgage for more than they currently owe, therefore repaying their current mortgage and using the equity they have built up in their home to take out another larger mortgage.

FHA refinance allows cash out amount up to 85% of the value of the property.

What documentation will I need?

  • W2's for the past 2 years
  • Current pay stubs for the past month
  • Bank statements for last 2 months for each active account with sufficient reserves (all pages)
  • Latest retirement statement for each active account (all pages)
  • Residence addresses for past 2 years (if you reside at your current address for less than 2 years)
  • Recent mortgage statement (s)
  • Homeowners declaration page
  • Clear copy of Driver’s License
  • Clear copy of SS card
  • Addresses and loan information of other real estate owned (if any)
  • Personal tax returns for the past 2 years, current income statement & balance sheet for business (self-employed only)



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Minimum Credit Score Needed

to Refinance


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Call 888.958.5382

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FHA Loan

Requires a minimum credit score of 500 to refinance

FHA minimum

credit score 500

VA Loan

Requires a minimum credit score of 500 to refinance

VA minimum

credit score 500

Fannie Mae

Requires a minimum credit score of 620 to refinance

Fannie Mae minimum

credit score 620

Freddie Mac

Requires a minimum credit score of 620 to refinance

Freddie Mac minimum

credit score 620


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888-958-5382


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