Although reverse mortgage loans are also available
through conventional mortgage lenders, borrowers are cautioned to avoid «too good to be true» offers made through the mail or online.
If you're struggling with above - market mortgage rates and can't get approved for refinancing
through conventional mortgage lenders, FHA refinance loans may help.
This often occurs when the prospective buyer can not obtain funding
through a conventional mortgage lender.
Not exact matches
Through insuring
mortgage lenders against losses on home loans, the FHA assists with providing loans to borrowers who may not qualify for
conventional mortgages.
Refinancing a reverse
mortgage through a
conventional lender such as a bank or credit union is generally not possible as
conventional lenders will not provide a loan to an individual whose name is not on title of the property.