how do i know if im benefitting from refinancing an fha loan
Save money with an FHA refinance loan. There are three different kinds of Federal Housing Administration refinancing loans, and the qualification requirements vary depending on what option you pursue. You may qualify for an FHA streamline refinance, a cash-out FHA refinance or an FHA replacement loan.The first two options require an existing FHA loan, while the latter requires an existing conventional (non-FHA) loan. Some requirements are the same regardless of which type of FHA refinance you pursue.HA Replacement Loan. If you have an existing conventional mortgage loan, you may be able to qualify for an FHA replacement loan. The credit, down payment and income requirements for an FHA replacement loan are the same as for a cash-out FHA refinance.