FHA refinance loans are mortgage loans insured by the Federal Housing Administration (FHA) and designed for borrowers who already have an existing FHA loan. These loans allow borrowers to refinance their current FHA loan into a new loan with different terms or features.
It's important to note that FHA refinance loans are only available for borrowers with an existing FHA loan. If you currently have a conventional loan or a loan backed by another government agency, such as a VA or USDA loan, you may need to explore other refinance options. Consulting with a lender or mortgage professional experienced in FHA loans can help you understand the specific requirements and benefits of an FHA refinance loan based on your individual circumstances.