Loan officers are jumping on this, too, and if you have an FHA loan you may have received a phone call or letter from a loan officer seeking to refinance your loan. If you “streamline” your refinance,
This loan product provides an excellent opportunity to easily and quickly refinance your existing FHA loan and lower your interest rate and payment. Advantages of the fha streamline refinance. There are many advantages to this loan program. The FHA streamline allows you to refinance with minimal documentation and conditions required.
FHA Streamline Refinance Sometimes It Pays to Refinance. The FHA Streamline Refinance program gets its name because it allows borrowers to refinance an existing FHA loan to a lower rate more quickly. Avoiding a lot of paperwork, and often without an appraisal, the Streamline option saves borrowers time and money.
An FHA Streamline is a great way to take advantage of historically low interest rates and lower your monthly payment because the process is simpler than what is required by most refinance programs.*Unlike a conventional refinance, an FHA streamline refinance may not require you to submit income documentation or get an appraisal.
If your mortgage loan is insured by the Federal Housing Administration, you may be able to avoid some of the hassle by applying for an FHA Streamline Refinance. You have to meet certain requirements to qualify and it helps to understand what to expect before you get started.
SANTA ANA, CA–(Marketwire – Jan 15, 2013) – The mortgage lending division of Carrington Mortgage Services, LLC (Carrington) today announced that it will offer the Streamline FHA 203K loan program,
“We're already insuring the loan that is going to be refinanced, so this is about as streamlined as it gets,” says Kevin Stevens, an FHA.
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An FHA streamline refinance is a faster and cheaper way to get a better deal on your FHA-insured mortgage. Not all FHA streamline refinance lenders are the same.
Best 15 Year Refinance Rates Best 15 Year Refinance Rates – Best 15 Year Refinance Rates – We offer mortgage refinancing service for your loan and we could help you to change the term and lower your monthly payments. By refinancing your mortgage when interest rates are lower, you can exchange a higher interest rate to a lower level, which in turn will lower your monthly payment.
Those using the so-called “streamline” refinance program allows FHA borrowers to win new FHA-backed loans without going through some of the more stringent guidelines that make locking into new loan.
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