streamline: New FHA Streamline guidelines are now in effect...take advantage! - 06/12/12 03:01 AM

As of yesterday, the new FHA guidelines for streamline refinances are officially in effect. This is a huge move by FHA as it should allow millions of people to refinance their current FHA loans without incurring the high costs associated with the program.
 
At Chicago Financial, we’ve confirmed with 2 of our lenders that they are ready for these applications. Most property types and all occupancy types are acceptable. Here are some of the advantages of the new guidelines:
 
-        In most cases, NO appraisal is required
-        No income verification (although you must be employed)
-        … (0 comments)

streamline: ATTN: Home owners with FHA loans --> REJOICE! - 03/06/12 03:28 AM
Lately, many homeowners have been discouraged from refinancing their homes due to the high
costs now associated with FHA. The rates are much better these days but since the mortgage
insurance premiums have increased significantly, the monthly MI payment increase would
essentially wipe out any payment savings and render the refinance pointless.
 
That’s now going to change. With an FHA streamline refinance, which in many cases requires  no appraisal, no income or asset documentation, home owners will now to start to realized some real savings. The FHA will cut its initial mortgage premium to 0.01% of the borrower's … (2 comments)