Missouri FHA Streamline Refinance
In the last couple of years, more people across Missouri have chosen to finance their home with an FHA loan – and when rates drop, they will be happy to learn how easy the Missouri FHA Streamline program can be. The FHA Streamline refinance program was designed to allow people who are currently in an FHA loan to take advantage of lower interest rates when they are available without having to do all of the same things they had to qualify for the FHA loan when they bought the home.
For example, there is no appraisal with an FHA streamline loan. There is no income documetation with an FHA streamline, There is no asset documentation with the FHA streamline, and there is no credit score requirement (note: some lenders now require credit scores, but not all) with the FHA streamline.
The FHA streamline is one of the easiest refinance programs out there due to these “streamlined” program requirements and it is no wonder it is popular when rates drop – many people save hundreds of dollars each month by doing an FHA streamline refinance and tens of thousands over the life of their loan. With how easy it is and how many people are currently in an FHA loan all across Missouri – it is no wonder why the Missouri FHA streamline is so popular!
Missouri FHA Streamline Lenders
Finding the right lender for your FHA streamline mortgage can be easy if you know where to look. FHA approves certain mortgage lenders to administer the FHA streamline program and if the lender is not approved by FHA, they can’t help people with their FHA streamline loans. Find a FHA approved lender today!