Have a FHA loan? No more than 60 days late on your mortgage? Want to lower your payment?
You are pre-approved for a Streamline Refinance!
It's really that easy! Take advantage of the single biggest benefit of your FHA loan by streamlining! Did you know:
FHA Streamlines don't require proof of income or assets. Lost your job? No savings? Doesn't matter, you are still entitled to a refinance.
FHA Streamlines credit must be 620 or better.
FHA Streamlines don't require an appraisal. Owe more on your loan than the house is worth? No problem, you can still refinance.
FHA Streamlinesdon'trequire money to close escrow! You can even receive up to $500 cash back at closing!
FHA loans never carry a pre-payment penalty; so you're free to refinance at any time during the entire loan term without any extra cost.
When you streamline it gets better.
Remember paying that Up Front Mortgage Insurance Premium on your old FHA loan? You're entitled to a partial credit! Don't delay, the credit decreases over time...
Your old escrow reserve account (taxes and insurance impounds) will be closed and a cash refund will be sent to you within 30 days of closing!
Documentation is a snap! Only the following is required to underwrite your loan: 1. Driver's license/SS card 2. HUD-1 Closing statement 3. Note 4. Mortgage statement 5. Insurance information.
Why do a FHA Streamline Refinance?
The two main reasons are 1) to reduce your interest rate or 2) to change loan programs, such as from a 30 year term to 15, or from an adjustable rate to fixed. This is of course a No-Cash-Out refinance; however we do offer the full FHA refinance to get Cash Out(though this will require an appraisal, and full qualification) or 203K rehab. By the way, the amount of times you may Streamline Refinance is unlimited. There is literally no good reason NOT to do one!
If you want to lower your rate or change your term, Fill out form below.
