Casey Persinger is The Low Price Lender
State of Utah License 6207980-MLAF
NMLS # 274080
An FHA loan is a great loan for either purchase or refinance. The FHA loan for purchase allows for borrowers with credit scores as low as 580 to purchase a home with only 3.5% the purchase price of the home as a down payment. This makes purchasing a home a reality for borrowers with lower credit scores and smaller down payments.
As for using the FHA loan to refinance an existing mortgage, with the way that property values have retraced all up and down the Wasatch front over the last few years the ability to borrower up to 97.75% of the homes value can be appealing.
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