The FHA Streamline Refinance does away with the usual voluminous documentation accompanying any refinancing transaction. And this streamline refinance program comes in two options: credit and non-credit qualifying. Let’s find out about their differences and similarities, and their overall implication to you should you choose either option. Do you qualify for an FHA streamline refinance?» Credit and Non-Credit Qualifying Guidelines Definition Non-Credit Qualifying This option does not … [Read more...]
Meeting the Requirements of the FHA Streamline Refinance
Refinancing does not always have to mean tons of paperwork and jumping through hoops to qualify. If you currently have an FHA loan and simply want to refinance into a lower interest rate, you can do so with very little work. Does that sound too good to be true? It’s possible with the FHA Streamline Refinance. As the name suggests, this program makes it possible to refinance with just a few requirements to meet, most of which a majority of FHA loan holders will be able to do. If you obtained your … [Read more...]
No Cost FHA Streamline Refinance
There is a no cost option when using the FHA streamline refinance. The no cost FHA streamline refinance is available to borrowers who currently have an FHA loan at a higher than market interest rate and is readily available through FHA-approved lenders. The no cost FHA streamline refinance is basically the same thing as the FHA streamline refinance, but with one exception, there is no cost at all to you. Yes, you read that right, there is no cost to you. Talk to a Lender with Your Refinancing … [Read more...]
How Easy It Is To Get An FHA Streamline Refinance?
The FHA makes it pretty easy to refinance into a lower rate. They require very little documentation from you and can turn the loan around in a short amount of time. There are even ways to save on the upfront mortgage insurance premium that you owe as well as the closing costs if you are diligent about it. As an added bonus, if you originally opened your loan a few years ago, the upfront mortgage insurance premium has dropped … [Read more...]