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LOANS

 
Contact Us

 

 

 

Megastar Financial
1080 Cherokee St..
Denver CO 80204

Tel.: (720) 529-1706
Fax:(866) 356-3884

 

 

 

 

 

 

 

FHA LOANS

FHA Mortgage Loans, including refinancing, thru Megastar Financial of Colorado

FHA loans are a way for people who might have difficulty obtaining a mortgage to get a loan. They are not limited to first time home buyers and can even be used to refinance a mortgage. Megastar Financial can assist in determining if you’re eligible for a FHA loan and if so, obtain for you’re the lowest interest rate.

Thanks to the Federal Housing Administration and FHA Loans, many US citizens, military veterans, lower income individuals, and the elderly have been able to enjoy the benefits of home ownership.

FHA mortgage loans provide this opportunity for those people who have not been able to save money for a large down payment to still purchase a home without having to pay higher interest rates.

These loans are also ideal for people who have had credit issues in the past but are on the right track toward improving their credit history. If you’ve gone through a bankruptcy but have kept your credit good for the past two to three years, you might be eligible for a FHA mortgage loan. If your previous home was lost through foreclosure you can be eligible for a loan in two to three years, as well.

Competitive FHA mortgage loans for first time home buyers or for refinancing
Megastar Financial is pleased to have partnered with some of the most competitively priced FHA lenders in the Country to provide great rates to our clients.

FHA STREAMLINE REFINANCE

Looking to refinance an FHA loan? Then, you may want consider a standard FHA refinance or an FHA Streamlined Refinance.

FHA streamlined refinances help lower third party costs and reduce the amount of paperwork needed for refinance transactions. With a Streamlined Refinance, there is typically no need for an appraisal, income verification, or credit checks. To qualify, you must already have an FHA loan that is in good standing and the FHA Streamlined Refinance must lower your monthly payment.

FHA Loan Benefits (subject to change)

  • Both fixed rate and adjustable rate mortgages are available
  • Up to 97.15% financing available for qualified borrowers (3.5% down)
  • 100% of closing costs may be a gift from a relative, non-profit or a government agency
  • Mortgage insurance is typically one half of what it would be with a conventional loan. This insurance usually drops after five years or when the loan balance reaches approximately 78% of the value of the property

You can do a cash-out refinance with a standard FHA loan but you cannot take cash-out with an FHA Streamlined Refinance. Ask your Megastar Loan Advisor to see which FHA mortgage product best suits your needs.

If you are in the market for an FHA purchase loan, FHA streamlined refinance or FHA cash-out refinance, Megastar can help. Give us a call today at 720-529-1706 for a free rate quote and consultation.