Below are two examples of adjustable ...YES! This is any other Mortgage Loan that is not a Fixed Rate Mortgage. #1 If you are currently in any Adjustable, or Variable Rate Mortgage. So, the question becomes, is it a good time to refinance? As stated earlier, FHA mortgage is a way for homebuyers to obtain financing for their homes. All home purchases require buyers to make a certain set percentage of the total purchase price, called the down payment. What the FHA mortgage insurance does therefore is to allow a homebuyer to make a modest down payment and obtain a mortgage for the balance of the purchase price.
