Do you worry that refinancing might cost you too much money to do? Maybe you worry about the paperwork or what the lender will ask of you. Get Matched with a Lender, Click Here. We have good news for you if you have an FHA loan. You may be able to refinance with the FHA streamline refinance. Just what is this program and is it right for you? Keep reading to find out. The FHA Streamline Refinance Defined First, let’s look at how the FHA refinance works. While it is a refinance, it’s very … [Read more...]
What FICO Score do You Need for an FHA Streamline Refinance?
If you have an FHA loan now, you are in luck. You can refinance without an appraisal. Even better, you don’t need a minimum FICO score. The FHA does not require the lender to pull your credit! They don’t even require that you verify your income. The only thing the FHA does require is proof of your timely mortgage payments. The length of time you need timely mortgage payments depends on how long you’ve had the loan. If it’s been less than 12 months, you cannot have any late payments reporting … [Read more...]
FHA Streamline Benefits
With the FHA streamline program, there are several benefits if you are eligible. In order to be eligible for the FHA streamline program, you need to currently be in an FHA loan, live in your home and have made your mortgage payment on time for the last 12 months. If you can qualify for the FHA streamline program, the benefits include getting a lower monthly payment, deferring a monthly payment and putting yourself in an overall better financial situation. To Get Matched With a Lender, … [Read more...]
FHA Streamline Program: Can Benefit You While Rates Are Low
Did you know if you have an existing FHA home loan for at least six months and you have not had any late mortgage payments in the last twelve months you already are qualified for an FHA streamline mortgage refinance? In fact for an FHA streamline refinance you do not need to provide nearly as much documentation as you would for a standard home loan refinance. Click Here for the Latest Loan Rates» The most important thing you can do is contact your FHA streamline refinance specialist … [Read more...]