Refinancing a mortgage loan for your home may appear nearly impossible for you. Maybe you’ve had a stretch of bad luck and your credit rating is poor. Maybe you are approaching the golden years and find it difficult to keep up the payments after retirement.
However, one of our Denver home loan specialists can find an effective and affordable solution for you. Here are some of your options:
- FHA Home Refinancing Loan
A mortgage loan backed by the Federal Housing Administration (FHA) is an excellent choice if you have a poor credit score or are unable to make a large down payment. You will have to buy personal mortgage insurance with this option, but don’t worry. A consultant for FHA loan in Denver will explain to you everything in clear and simple terms.
- Reverse Mortgage
This is a good Denver home refinance option for elderly people who own sufficient equity in their home. The key benefit of this type of mortgage is that there is no minimum monthly payment. This will allow you to go through periods when money is tight with the peace of mind that paying less on your mortgage loan will not trigger a breach of the contractual clauses.
- VA Home Loans
Army veterans served our country and they deserve to receive extra benefits. This is why the Veterans Association exists. And, when you consult with a VA loan specialist in Denver, you will find out that you can refinance your mortgage loan under more relaxed and favorable conditions.