Rate and Term Refinancing with FHA

No cash back is allowed with FHA streamline loans and you must already have an FHA mortgage with your current 1st mortgage. You will enjoy the automated loan process that FHA streamline loans provide. Take a minute and find out how much you can save with a fixed FHA mortgage rate for 30-years.

FHA Streamline Refinance for the Lowest FHA Rates

We are an FHA lending company that specializes in FHA streamline refinance loans. Our lending team understands the needs of FHA borrowers and how FHA streamline refinancing works, so you will get the best mortgage rate and great advice to maximize the FHA loan programs.

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Archive for FHA Streamline News


15 and 30 Year FHA Refinance Rates Remain Low

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For the last few years, homeowners have benefited greatly from record low FHA rates on fifteen and thirty year mortgage terms. According to several government approved lenders, mortgage rates for the FHA streamline program were very attractive in the beginning of 2013.

In April, the Federal Housing Administration implemented some new rules that could have profound affects on borrowing under government mortgage programs. HUD approved a significant change that does not enable FHA customers to get rid of their mortgage insurance on FHA mortgages if they had less than 10% equity in their home when they refinanced or purchased it. Mortgage insurance premiums went up on every government insured loan programs with the exception of the FHA streamline refinance. Unfortunately many first time home buyers may reconsider financing with FHA if these changes remain in effect.

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What is a FHA Streamline Loan?

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What is a FHA streamline loan? The streamline refinance is the same as the regular FHA refinance, just less paperwork. While this may sound like a selling gag, it can save you a good chunk of closing costs. In most cases the FHA mortgage lender will waive the appraisal.

To qualify for a FHA streamline refinance, you must already have an FHA loan that you have made at least six payments on. And you cannot be currently delinquent. The focus of this type of refinance is to lower your monthly payments. These loans require that, if you have a current fixed rate and want to get fixed rate financing, then your new monthly payments must be at least five percent lower than your current one. If you have an ARM and would like to refinance to a fixed, or another combination, your mortgage professional will be able to provide more information.

A FHA streamline refinance is a great way to lower your monthly payments while FHA mortgage rates are still low. There are two options for refinance in this situation. Some companies will offer a “no cost” option that means you will have no out of pocket expenses. The catch is that your interest rate may be a bit higher. The other option is to wrap the costs into the mortgage amount. Your payment may be a bit higher though, and you must have equity to cover it. Discuss both options with your mortgage lender and see which one is for you.

Sandy recommends learning more about FHA Mortgage products online. He suggests comparing FHA lenders and verifying their experience processing FHA loans.  Article Source: http://EzineArticles.com/?expert=Sandy_Sarconi

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FHA Streamline Refinance Website Goes Live

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The FHA Streamline Refinance Company announced a new website dedicated to helping FHA homeowners uncover the best FHA mortgage rates online.  The FHA lending company posts HUD news and FHA loan guidelines so consumers can consider the FHA streamline loans that lower interest rates and monthly payments. 

Sign up and get email alerts on FHA rates, so you know the best time for an FHA streamline.

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