FHA Refinance: FHA Streamline Refinance the time is now to take advantage of it-

Interest rates have recently dropped and with the announcement by the Fed that they will be buying hundreds of billions of dollars of Mortgage Backed Securities from the GSE’s, it is generally expected that interest rates should trend downward for a period of time.

Falling interest rates generally mean an increase in the number of people refinancing – and over the last year or two with the dramatic increase in the number of people in FHA loans, many people can benefit from the FHA streamline refinancing program.

If you have an FHA loan and your interest rate is above 6.5%, you would be wise to contact me to council you on your mortgage options.

The FHA Streamline program is one of the few loan programs that are available where you can refinance and get a lower the interest rate on your home and:

  • In some situations, no appraisal is required
  • No income documentation is needed
  • No asset documentation is needed

The main requirements for the FHA Streamline program are that (1) you have a good “mortgage rating” – meaning that you have made your monthly payments on time and are current and (2) that if you participate in the Streamline program, it will put you in a better financial situation (r.e. lower your interest rate).

I look forward to offering you options on your FHA Refinance and saving you money on your monthly mortgage.

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