Arizona homeowners, especially in some specific areas of Arizona, are very happy with their home but not with their existing interest rates on their FHA home loan. Some of those same Arizona homeowners may also be “upside down” in their FHA home loan meaning they owe more on their FHA loan than the current appraisal value of their home. If you are an Arizona homeowner with an FHA home loan and you are current with your mortgage payments and have not been late on any home mortgage payments in the last 12 months you may already qualify for an FHA streamline refinance.
Made available by HUD to FHA insured home loan homeowners, the FHA streamline refinance may not even require an appraisal which gives you a huge advantage over your neighbor who may not have an FHA insured home loan. The specific needs of the Arizona homeowner should not be left up to some lender or broker out of California or New York but are best handled by an Arizona FHA streamline refinance specialist. There could be nothing worse than to deal with some big dot com lender from out of state who does not understand Arizona real estate and leaves you high and dry with nothing or the wrong loan at the Arizona closing table.