Ringing Ceders

Before the dawn of the great subprime mortgage meltdown that raised its ugly head in 2007, prime conventional loans were all the rage and refinancing lenders often suggested these programs for their clients.  Fast forward to 2008 and fha loans are now all the rage, and for good reason.

Fha loans offer refinancing homeowners some distinct advantages over prime conventional mortgages.  Qualifying credit scores are much more lax with fha loans and believe it or not, refinance rates are pretty much on the same footing as a conventional loan that is qualified with an excellent credit score.  Those considering fha loans should have a 580 mid fico credit score minimum for qualification purposes.