As Donald Trump prepares to be sworn in next week, officials under the Obama administration are setting their respective departmental affairs in order. Poised for a transition, Secretary Julián Castro has imparted one final gift before making way for his successor. The Federal Housing Administration (FHA) has established programs aimed at helping borrowers with problematic or limited credit attain homeownership. The U.S. Department of Housing and Urban Development announced that the FHA is … [Read more...]
FHA Streamline: What Is The Deal With A Minimum Credit Score?
No doubt, if you are wondering if the FHA streamline program has a minimum credit score, you are probably confused. There is mis-information everywhere - or maybe the information that you see was correct at one time, but is no longer true. FHA Streamline Rules For Minimum Credit Scores Officially, FHA does not have a minimum credit score requirement for the FHA streamline program. BUT -- lenders have started requiring minimum credit scores, and every lender seems to have their own set of … [Read more...]
FHA Streamline Refinance: Two Questions
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. To Get Matched With a Lender, Click Here» So many home owners today are … [Read more...]
FHA Streamline Refinance: No Income Verification
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 … [Read more...]