This does not mean that the sub-prime market can't be helped out by the FHA. The federal housing authority (FHA) has finally made some long overdue changes to assist homeowners that are in distress because of increasing adjustable rate mortgage payments. The US Federal Housing Administration offers loans that enable individuals to acquire a home with a down payment as low as 3% - a percentage comparatively lower than most limits for regular loans. Adjusting variable rate mortgages have caused many homeowners to fall behind on their mortgage payments and is one of the leading causes of the record high foreclosure rate in the United States. With fewer loans ands a lower CLTV, an FHA home loan could save homeowners the extra cash they need. The new FHA Secure program would help home owners who have fallen behind on their home mortgage and possibly facing foreclosure. You may have a little more difficult time, but you can still refinance with an FHA home loan. The standard FHA underwriting guidelines will apply to the FHA Secure program and a new FHA approved appraisal will be ordered for the property. In return, lending institutions can be sure that their money will return to them, even if you default. You may be able to borrow on your home equity so that you can repair or improve your home, as long as you make sure that all improvements are energy efficient. When applied to a typical house payment, this can sometimes double or triple the monthly mortgage payment for a home owner. FHA Refinance Home Loans have been in use for the purpose of securing loans for a long time. Borrowers must note that a FHA refinance home loan with bad credit also bars any cash take-out on the home loan. This group can include those who have less than perfect credit, but no record of bankruptcy in the past five years, and single parents who have only one source of income. Author Chris Rivers, a Connecticut FHA Lender, specializes in offering low FHA interest rates for Connecticut refinance mortgages even if you have late payments on your mortgage. The other facet of a CT FHA mortgage program is the homeowner's assistance program if you fall on tough times and need some assistance to make your payments. These percentages reflect greater leniency on the part of the FHA, as the ceiling for total housing cost under conventional loans is at 26%-28%, while the cap for total monthly cost is at 33%-36%. The notification was recently sent out and had some very specific language, but also had some vague language that will ultimately be translated by FHA trained underwriters. With a Connecticut FHA home mortgage you can have a six percent interest rate on a thirty year fixed FHA mortgage loan. This means that they're willing to offer better interest rates. Second - look at cutting expenses, selling off assets, or getting more income into the household. FHA Refinance Home Loans will hand you a solution that is nearly tailor made to your specific needs for a home loan and will give you exactly what you're looking for just when you need it most. People who have no credit record may also be approved. Author Chris Rivers, a Connecticut FHA Lender, specializes in offering low FHA interest rates for Connecticut refinance mortgages even if you have late payments on your mortgage. But before you go and give out your vital information you need to know the new FHA guidelines. Instead, it guarantees your loan for the lenders who are willing to work with you. FHA loan limits are increasing to assist homeowners who have larger mortgages. BASIC FHA requires 3% down payment and allows refinances up to 97% loan to value. It's still a good real estate investment strategy, and is quite effective when done ethically and done right.