Fha Loan Refinancing Rules

FHA-Approved Reverse Mortgage Benefits. An FHA mortgage for seniors comes with several benefits that likely appeal to some seniors. The National Council on Aging (NCOA) points out that an FHA mortgage for seniors is often less expensive than other types of home equity loans.

But your new loan may exceed these limits if it meets certain guidelines, especially if you’re refinancing an existing FHA loan or you took out your original loan when the upper limits were higher.