With the FHA streamline refinance it is possible to refinance your home loan without an appraisal. In fact the two main qualifications for the FHA streamline refinance are that you have had no mortgage late payments in the last twelve months and that you have an existing FHA home loan. If you can answer yes to the previous you are likely already qualified to use the FHA streamline refinance to refinance your loan.
So many home owners today are “upside down” in their home loan, meaning they owe more on their home than it is worth, that most loan programs will not allow them to refinance. FHA, on the other hand, has the advantage of the HUD created twenty five year old FHA streamline refinance program. For homes that are worth less than their existing appraisal value the FHA streamline refinance is probably the only solution to refinance and take advantage of today’s lower interest rates. Since the solitary goal of the FHA streamline refinance is to lower the home owner’s monthly costs, as in their principal and interest payments, today’s housing and finance environment proves the wisdom of the FHA streamline program.
The FHA streamline refinance is available to every FHA home loan home owner in America and the best way to take advantage of it is to contact your FHA streamline refinance experts today.
To learn more about the benefits of the FHA streamline refinance program, call the FHA streamline experts at 888.448.2669.