Our FHA loan program is one of the most popular options with our clients that are looking to refinance. We pride ourselves on being one of the top-rated lenders in the country, and we’re confident we can help find the right loan solution for you.
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). FHA loans are designed to make homeownership more accessible and affordable for a broader range of borrowers, particularly those who may have lower credit scores, limited down payment funds, or other financial challenges.
Most other lenders apply credit “overlays” to the FHA minimum credit score of 500 in order to minimize their perceived risk. It is common for other lenders, banks, and credit unions to require a 620 minimum credit score for both new and existing homeowners.
Top Flite is know nationally for approving the FHA cash out refinance loans that others turn down. We have determined that your credit score is not always the best indicator of your ability or likelihood to repay your loan on time, and we are willing to work with you to understand your financial situation and structure a loan to your specific needs.
Typically, an FHA cash-out refinance is one of the easiest types of mortgage loans to qualify for because it requires at least 12 months of on-time mortgage payments even with less-than-perfect credit.
At Top Flite Financial, we have one of the most aggressive FHA cash out refinance loans that you will find anywhere, and are willing to work with borrowers that other banks won’t.
Let us help take the stress out of the home loan process. Here’s how our home loan refinance process works:
Let Us Know Your Goals
Contact your Top Flite loan specialist – he or she will ask a few preliminary questions about your situation and find out more about what you’re trying to accomplish.
We’ll Run the Numbers
Your loan specialist will put together available options. Don’t worry if your credit isn’t perfect – we’ve helped thousands of people find a solution for their specific situation.
Then the Fun Starts
You review the available options, and we answer any and all questions. Once you select the best option for your, we’ll order a home appraisal. We’ll also collect basic documentation and other items related to the loan approval process. Once the appraisal is back and all preliminary items have been provided, your loan goes to underwriting.
Underwriting & Processing
Our underwriting department will take a look at all the collected items, and request any additional information if necessary. Once your refinance loan is approved, we’ll send a closing agent to your home to sign the final paperwork