Refinance Home Scenarios Influence Loan Program Selections

August 16th, 2009

Refinance home loan program options have decreased dramatically over the past couple of years, as the economy has shrunk and the housing market fell to near collapse.  The two major refinancing options on the market today, really boil down to prime conventional mortgages and FHA home loans.

 

Depending upon your qualified home loan scenario, the bottom-line will most likely lead you to which refinance home program to choose.  Basically, if you have a good to excellent credit score and want to refinance 80 percent or less of the value of your home, the prime conventional home loan option will be the best one for you.  On the other hand, if you have a credit score between 620 and 700, and want to refinance more than 80 percent of the value of your home, then the FHA mortgage loan program will most likely net you the best benefit.

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Entry Filed under: Business

2 Comments Add your own

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