Each lender seems to have different "rules" (lenders call them overlays) for the FHA streamline refinance program. Some lenders will require an appraisal, some will require an appraisal only in certain situations and some won't require an appraisal at all. Here is an outline of what at least one lender is now requiring for all FHA streamline products according to an announcement made by the lender today. To Look for FHA-Approved Lenders, Click Here» Current FHA Streamline Requirements … [Read more...]
FHA Streamline Refinance Explained
Here is a simple video about the FHA streamline refinance program. FHA Streamline Refinance Highlights No appraisal required No employment verification (verbal only, no income required) Existing loan has to be an FHA loan Payment history for the last 12 months must be clean Mid credit score must be 640 (with this lender) No cost FHA streamline options available To Get Matched With a Lender, Click Here» … [Read more...]