Connecticut Home Loan - Refinance Your Mortgage Into A FHA Mortgages

Did you know that you can refinance your Connecticut home loan into a FHA mortgage? Many Connecticut homeowners believe a common misconception that FHA mortgages apply only for first time home buyers. Thousands of Connecticut homeowners unnecessarily pay double digit interest rates or pay interest rates that are nearly in double digits. If you are one of those Connecticut homeowners then why continue overpaying hundreds of dollars per month and thousands of dollars in interest every year?

The Federal Housing Authority also known as FHA is an insurance program that any mortgage lender can use to guarantee that the mortgage money that they lend you will have some type of safety net in case you default on the mortgage at any time. The program is not limited to first-time homebuyers, but is limited to owner occupied homes and mortgage loan amounts that you cannot exceed.

Refinancing your conventional mortgage into a FHA insured mortgage can save you hundreds of dollars per month and allow you to have a mortgage lender that has an obligation to work through the curve balls that life throws your way. There are a few qualifications for FHA mortgage programs that you must be aware of.

The qualifications are:

You must have verifiable income from your W2, paystubs and tax returns

You must maintain a low monthly outflow of cash for paying your mortgage and bills

You must have 3% to put down on a purchase from your savings, parents, relatives, 401k or down payment assistance program.

You must not exceed the maximum mortgage limits for the county that you are buying in.

If you are struggling to meet your monthly mortgage payment then a Connecticut FHA insured mortgage is the best mortgage program available for thousands of homeowners who want to get a low thirty year fixed rate.

Chris Rivers, a FHA Mortgage Broker, specializes in offering low FHA interest rates for refinance mortgages in Connecticut even if you have late payments on your mortgage. When you need to refinance your adjustable rate home mortgage into a fixed FHA rate mortgage then use a Connecticut FHA Mortgage.

Get your FREE list of Connecticut mortgage lenders for homeowners with mortgage lates and low, bad or no credit.

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