Many people who are interested in an FHA streamline refinance wonder what is involved and how long it takes to complete the refinance and get a new FHA loan.  Depending on which lender you choose, times may vary – from anywhere between 2 and 6 weeks.

The process of the FHA streamline refinance is relatively simple. First, in order to qualify for an FHA streamline refinance, you need to have been on time with your mortgage payment for the last 12 months and live in your home. Once you qualify for the program, you will need to sign the initial paperwork and provide proof of identity.  For the FHA streamline refinance program, you will also need to provide a copy of your current mortgage statement or a copy of your current note.

Once the initial paperwork for the FHA streamline refinance is signed, you can then lock-in your interest rate and the paperwork is processed and sent to underwriting.  Once your FHA streamline paperwork is in underwriting, you should expect it to take about 2 weeks after that until you are ready to sign the final paperwork.

Signing the final paperwork usually takes about an hour and can be done with a mobile notary service in your home or at a title company. Once you have signed the intial paperwork, you then have a 3 day waiting period before your loan funds and your FHA streamline refinance is complete.

Make sure you work with experts who know the FHA streamline refinance program and can help you answer any questions that you may have about the program.  The best way to contact an FHA streamline refinance expert? Call 888.448.2669 and an FHA streamline refinance expert will be happy to answer your questions.

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.

There are costs involved with the FHA streamline program, but they can either be rolled into your loan or paid by your lender in exchange for a higher interest rate. This is also known as the FHA streamline program with no out of pocket closing costs or the FHA streamline program with no closing costs.

Most often, when a person participates in the FHA streamline program, they will still be in a FHA 30 year fixed rate loan with an interest rate that is lower than what they had before.  Often this reduced interest rate can mean hundreds of dollars of savings each month in interest. Obviously, the FHA streamline program is popular only when interest rates have fallen to the point where it makes sense for people to streamline.

Can the FHA streamline program benefit you? Contact an FHA streamline program expert today to find out. 888.448.2669

The FHA Streamline program was initially designed to allow people to take advantage of lower interest rates without having to completely requalify for a new loan.  The term “streamline” refers to the amount of documentation required, not that it is an easy process.

No matter how you slice it, the FHA streamline program is going to require effort on your part. Whether participate in the FHA streamline program with or without an appraisal, the primary goal should be to save as much money as you can with as little effort as possible.

When does the FHA streamline program make sense – as in, when do the benefits outweigh the costs involved with the program? Generally speaking, if you can save at least 1% on a FHA 30 year fixed rate loan, the FHA streamline program will make sense.

Since FHA 30 year fixed rates today are hovering at around 5%, that would mean that anyone who is currently in an FHA loan that is 6% or higher may be able to save a bunch of money on their mortgage payment each month by participaing in the FHA streamline program.

Call your FHA streamline refinance experts today at 480-374-0303 to find out if the FHA streamline program will help put in an overall better financial position.

Many people in recent years have finance their home with an FHA home loan that have interest rates higher than today’s interest rates. The FHA streamline refinance program was designed by HUD to help home owners who are currently in an FHA home loan to refinance to lower monthly costs without having to completely re-qualify for a new loan. The FHA streamline refinance could put billions of dollars of monthly principal and interest payments back into the economy through simply saving home owners hundreds of dollars on monthly payments.

If you have an existing FHA home loan you owe it to yourself and to your family to contact your FHA streamline refinance specialist today and apply for the FHA streamline program – which you are probably already qualified for. Even if your home has declined in value and even if your income has gone down over the last few months you still likely are qualified to use the FHA streamline refinance because depending on your situation you may not need an appraisal on your home.

Rates are low today and there is no way of knowing how much longer they will stay that way. Chances of them going any lower are extremely small since the Federal target rate is so low any additional cuts would make it zero. Call your FHA streamline refinance expert and get started today!

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.

Searching the news today it is difficult to find anything good about the housing market, mortgages and the economy. Unless, that is, you have an existing FHA home loan and have not been late on any payments recently. What makes this good news is the FHA streamline refinance.

The FHA streamline refinance is a very unique home mortgage rescue product developed over twenty-five years ago by HUD to allow FHA home loans to be refinanced to lower interest rates without the need for every qualification point normally required by traditional loans. Not required are items such as the appraisal which could easily disqualify most borrowers today. This is important due to the declining property values experienced by almost every home owner in America today.

Another point of the FHA streamline refinance is that it does not require income verification so if the home owner’s income has gone down, as many have, since they originally qualified for the loan but they are still able to make their monthly payment on time the FHA streamline refinance still works for them. Even if you find yourself in an area full of foreclosures and other distress sales the FHA streamline refinance is still available for you. The goal of the FHA streamline refinance is to keep Americans in their homes and lower their monthly costs.

Find out if you can benefit from the FHA streamline refinance program by calling the FHA streamline experts at 888.448.2669.

The news has been filled with an amazing variety of good and bad about the real estate industry lately. There has even been some information about FHA home loans which may not have been correct but here is some news that has not changed: If you have an existing FHA home loan you can use the FHA streamline program to refinance your existing FHA home loan anywhere in the United States. Not every lender provides FHA streamline refinance services so make sure you are speaking with an FHA streamline specialist.

To do an FHA streamline refinance all you need is an existing FHA home loan and to not have been late on any home loan payments within the last 12 months. Even if your existing FHA home loan payoff amount is higher than the current appraisal value on your home you can still use the FHA streamline program because in certain instances you will not need a new home appraisal. In other words you have the opportunity to do the FHA streamline program with no new home appraisal.

You can continue to scour the internet and find bits and pieces of information but until you actually speak with an experienced FHA streamline program specialist you are not getting the correct information specific to your exact needs so call an FHA streamline program specialist today.

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.