FHA Loans are saving many homeowners from foreclosures. Borrowers with credit scores of
400 are able to refinance into a 30yr fixed mortgage at 7% or less. It's very important that a
future or current FHA borrower has timely credit payments for the last 12months. Credit
payments are defined as any payment that is reported on your credit report. With FHA loan
amounts higher than 175k, the borrower may receive mortgage rates as low as 6.375%.