Many people who have gotten FHA mortgage loans in the last couple of years are not aware of one of the best mortgage interest rate reduction programs available today. If you currently have an FHA mortgage and are current, you can refinance your home with a principal and interest amount lower than your existing FHA home loan you already qualify for. The program is called the FHA streamline program.
This program is available nationwide for borrowers who currently are in the FHA program without even needing a credit check. Can you imagine doing an FHA streamline refinance with no credit check? What if you also did not need an employment verification? In fact the FHA streamline refinance has a tremendous reduction in paperwork requirements.
To qualify as an FHA refinance streamline the result must be a lowering of the monthly principal and interest payment. With interest rates as low as they are today this is not hard to do. Ask your FHA home loan specialist about “rolling in closing costs”. When you roll in the closing costs, you may or may not be able to do the “no-appraisal” option, but you will still be able to participate in the FHA streamline program as long as it benefits you.
All in all an FHA streamline refinance is a powerful way to manage debt. Call your FHA home loan specialist today at 888.448.2669 and ask for more information on the FHA streamline program.
