Current FHA Streamline Mortgage Rates: FHA Streamline Rate Information
For many people who currently have a FHA loan, the FHA streamline mortgage program is designed to let them take advantage of lower rates when they are available with an as-easy-as-possible refinancing program.
The most popular question many people interested in the FHA streamline program is:
What are the current FHA streamline mortgage rates today?
Because FHA streamline rates change multiple times each day and can vary widely from FHA lender to FHA lender, here is a simple look at what some of the leading lenders are offering in today’s marketplace. FHA streamline mortgage rates are important because the FHA streamline refinance program requires that you get a lower rate on your mortgage in order to qualify – so that you are putting yourself in a better financial position. FHA streamline mortgage guidelines have rules about how much your rate must drop in order to qualify for the program – and to prevent you from putting yourself in a worse financial situation.
FHA Mortgage Rates: Shop Around
Once you have a general idea of where FHA streamline rates are currently, the next step is to shop around for the best FHA lender who has the best FHA streamline rates available. FHA streamline rates vary from lender to lender and at a single lender, many times they vary from day to day. Also, because each lender has slightly different guideline overlays when it comes to appraisals, credit scores and late payments on your mortgage – just to name a few.
FHA streamline rate quotes should be free from FHA lenders and after getting your information, they will provide you with a Good Faith Estimate of what exactly your FHA streamline mortgage rate would be if you were to get an FHA streamline loan done right then. Rate quotes will be in writing and will be a good-faith estimate of exactly what your rate would be if it was locked today. Remember, your rate isn’t the rate you can get at closing until it is locked! Most lenders won’t lock your rate until they have all of your application paperwork in, which means if you want to take advantage of today’s low rates be sure to get your paperwork in and then get your rate locked.
Get your free FHA streamline rate quote today by completing the information below.