Why FHA Loans Are Still a Great Option

Why FHA Loans Are Still a Great Option

Broker | Owner | Mortgage Consultant
Josh Lewis
Published on March 31, 2022

Why FHA Loans Are Still a Great Option

Remember that you can refinance out of your FHA loan as you gain equity.

 

Let's talk a bit about FHA loans today. A viewer of ours is looking to refinance their FHA loan to a conventional loan. Home values went up so much that they have enough equity to remove their private mortgage insurance. Congrats! A lot of people are in that position right now.

 

This is why it drives us nuts when people look down on FHA loans. With those loans, people can get into a property while only putting 3.5% down. After a bit, they have the equity to remove the PMI and still be in a great spot.

 

If you're hesitant to use FHA, keep in mind that your home's value will appreciate. You might not get the equity overnight, but you'll eventually be in a position to remove the PMI.

 

If you have any questions about this topic, feel free to call or email us. We would love to chat.

Broker | Owner | Mortgage Consultant
Josh Lewis Broker | Owner | Mortgage Consultant
Click to Call or Text:
(714) 916-5727

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