FHA loans have been helping people since 1934. The Federal Housing Administration (FHA) – which is part of HUD – insures these loans, so your lender can offer you a better deal. FHA allows a homeowner to refinance their home with as much as a 90% loan to value with a credit score as low as 580. FHA offers both fixed and adjustable rate loans.

Some other interesting terms to consider:

1. Low down payments
2. Low closing costs
3. Easy credit qualifying