FHA Secure loan Program is Cancelled. This was a temporary program put in place that expired December 31, 2008.

• Homeowners with current or delinquent non-FHA adjustable rate mortgages are eligible.
• You are not automatically disqualified based on delinquency on your current loan.
• You must have a dependable income and be able to make your mortgage payment.
• If you are in default, you must show delinquency or default is the result of increased interest rates and the resulting higher mortgage payments.
• If you are current on your mortgage payments, any type of conventional loan is eligible for FHASecure refinancing.

For single-family homes, multi-family, and manufactured home can all qualify for FHASecure refinancing.  Something that a borrower should know would be that refinancing does not indicate flexible requirements for credit.  Borrowers should, have a stable income from a dependable source, show a trustworthy payment history on other debts, have a debt-to-income ratio below 41%, and have an acceptable credit score.