Jacksonville, Texas FHA Streamline Loans are a special mortgage product, reserved for homeowners with existing FHA mortgages.FHA STREAMLINE REFINANCES are the fastest, simplest way for FHA-insured homeowners to refinance their respective mortgage into today’s low mortgage rates.
Let’s take a look at some of the requirements for an FHA streamline:
- You must be current on your existingLOAN with all mortgagePAYMENTS made on time for the last year.
- You must own the original property and have made at least six monthlyMORTGAGE PAYMENTSbefore you can qualify for refinancing.
- To refinance, you’ll need an FHA-approved lender. If you don’t want to use your current lender, anyMORTGAGE LENDER you choose must be FHA approved.
- FHA Streamline loans do not require an appraisal, but a no-appraisal loan cannot exceed your current loan.
- Closing costs must be paid up front or arranged for through a “no-cost” FHA Streamline loan. You may also choose to include the closing costs into your loan by doing a “with appraisal” FHA Streamline loan. In these cases, you must have enough equity in the home to cover the extra amount.
Jacksonville, Texas FHA Streamline Loans can help homeowners lower monthly mortgage payments and interests rates. If you have a conventional loan you wish to refinance with an FHA refinancing loan, you’ll need to apply with the usualCREDIT CHECK, employment verification, debt-to-income ratio requirements and other considerations.
For more information about FHA StreamlineLOANS, please visit the FHAWEBSITE:
For more information on Jacksonville, Texas FHA Streamline Loans and the surrounding areas, please contactJoy Bates,SENIOR MORTGAGE Banker at 817-860-3232 or email Joy: joybates@leader1.com or log ontohttp://legacyfinancial.com and request more information. Joy doesLOANS all over the state of Texas.
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