If you currently have an FHA mortgage with a rate higher than 6.5% now is a great time for a streamline refinance.
A streamline refinance is much different than a typical refinance. If you already have an FHA loan with a good payment history the lender assumes that you'll make the new mortgage payments on time as well, so they don't require near as much documentation as when you're purchasing a home, refinancing a traditional mortgage. Some of the benefits are as follows:
- No credit check
- No income or employment verification
- No appraisal needed
- Fast processs....a week or less!
- Very little paperwork
- Easily increase or decrease the length of the term of your existing loan
- No out-of-pocket costs
If you currently have an FHA mortgage & want to look at reducing your rate to 5.5% or lower feel free to give me a call.
You can reach me at:
Dan Magstadt
386-754-8500
866-943-8000
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