FHA Streamline Refinance 411 – The Quick & Easy Loan – No Cost – No Appraisal
FHA Streamline 411: FHA has permitted streamline refinances on insured mortgages since the early 1980’s. This is a way to “Gurantee Refinance” regardless of certain requirements. This is an excellent choice if you want to ..
1.) Convert your ARM to a FIX regardless of past credit and upside appraisal issues.
2.) Refinance to a lower rate, quick and easy without the headache of new loan process.
FHA Streamline Requirements:
- The mortgage to be refinanced must already be FHA insured.
- The mortgage to be refinanced should be current (past late payments OK)
- No Fico Score Required
- Must lower the borrower’s monthly principal and interest payments to qualify.
- No Cash out over $500 on refinance.
- No termite report is required
- Appraisal not required
- Income documents not required
FHA Streamline Process: The Streamline process is by far the most Fastest and Easiest to qualify. Heres how it works
- Check to make sure your loan is a FHA loan
- Call me to complete a 5 minute application
- Sign and Complete disclosure forms to get Payoff from your current company.
- Wait 48 hours
- Close Loan
- That was easy!!