FHA Home Loans Refinancing

FHA Streamline Refinance Program

11.04.10

The FHA streamline refinance is the hottest refinance program in the US right now for several reasons. Lenders continue to report that FHA streamline popularity is soaring because they are unique to the market-place. Consider a FHA streamline if you currently have a mortgage insured by the Federal Housing Administration. FHA streamline rates have never been lower and the efficiency for processing streamline loans has improved dramatically.

Take Advantage of the Flexibility and Affordability the FHA Streamline Offers

1. There are millions of FHA borrowers now so the streamline loan is a natural progression for homeowners that want to save money.

2. For most borrowers there is appraisal required, so thousands of borrowers are refinancing there underwater mortgages

3. Borrowers must be employed, but there is no income documentation required!

4. Our FHA lenders have reduced the fees for refinance loans.  Some even offer a refinance loan with lower fees!

5. FHA mortgage rates have fallen below 4%!

FHA Streamline Program Guidelines

  • Credit report will be reviewed for declining credit profile
  • Excessive late payments, property in foreclosure proceedings, recently foreclosed, or in default, is considered a declining credit profile and will be declined
  • Over 580 FICO – AVM max LTV 125% – NO appraisal required
  • Under 580 FICO – Appraisal required, max LTV 90%
  • Rate Price without FICO adjustments
  • FHA Mortgage Terms: 30yr Fixed, 15yr Fixed, 5yr ARM
  • Manufactured: AVM max LTV 90%
  • No appraisal required if 12 payments made, 0×30, over 580 FICO

Find out if you qualify for no closing cost mortgage refinancing.

FHA streamline refinance notes: Ask about our self-employed mortgage options for FHA borrowers.  FHA streamline guidelines are subject to change.  FHA loan approval is required and borrowers must be able to document that they have been current on their FHA mortgage.  FHA rates are subject to change and underwriter approval. FHA rate locks are recommended for 30 or 45 day locks. Check the FHA loan limits in your area, because the maximum loan allowed varies significantly by state and region.

 

For the latest updates on home loans for self-employed borrowers, please visit, http://www.mortgageloanoutlet.com/self-employed-mortgage-loans.shtml

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