One Last Push for the FHA Streamline Refinance
As a result of FHA running low on their capital reserve requirements they are going to need to raise their fees so that can replenish their reserve pool, and the home owner is the one footing the bill. The FHA Streamline has been a great product over the last couple of years. On average I have been able to help between 12 and 20 FHA mortgage holders a month refinance their current FHA loans into lower interest rate settings, and it is so frustrating that HUD has make the home owner pay higher fees for those who defaulted on their mortgage payments. In about 6 weeks the benefit someone can achieve from FHA Streamline Refinance is going to be chopped for the second time in 6 months.
I'm am strongly urging those who have not yet taken advantage of this program yet to make the initiative and get it done now. Once they raise the monthly FHA insurance premiums there will not be enough payment savings for it to make sense for most people.
- no appraisal necessary
- no income verification
- must be on time with your mortgage payment for 12 months
- 640 credit score required
- Investment properties & multi-families
- very little paper work (Streamline)
- takes less than a month from start to finish
- rates are still under 5%
I have the ability to lend in 50 states and I have extensive experience helping clients with this program. This is a huge opportunity for FHA loan holders to save money and better their financial situation. If you know anyone please have them call me so we can take a look at options. Once this guideline changes this option will not have the same benefits.
My Direct Cell Phone is (508)-740-7442
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