If you're purchasing a new home or refinancing you can benefit from FHA loan, even if you have less than perfect credit.
FHA loans are insured by the FHA to reduce risk for the lender, which means benefits for borrowers over conventional loans.
Purchasing your new home with an FHA loan can mean a lower down payment and lower rate than a conventional loan.
Even if you may not qualify for a conventional refinancing because of your income, an FHA refinance may still be an option.