The FHA Streamline Refinance Program and Current Rates
Do you currently have an FHA loan? Have you had a good recent payment history? If you can answer ‘yes’ to both questions, you might have the ability to reduce your interest rate and lower your house payments without a whole lot of paperwork, time commitment or hassle.
We think the FHA Streamline Refinance Program could be a major value. That’s why we feel that it’s worth learning more about FHA streamline rates and other details of this innovative program.
The Basics
This program of the Federal Housing Administration has earned its name in the many ways it can “streamline” the mortgage refinance process in your favor. There are a lot of documents you don’t have to accumulate and turn in during the application process, and reams of bureaucratic red tape you can skip before getting an approval.
The time- and labor-cutting nature of the program is the result of the fact that you’ve already obtained an FHA loan, so you’ve therefore proven your creditworthiness. That’s why applicants can take a several shortcuts from the usual refinance process.
For instance, you most likely won’t have to verify your income or assets, there is no full credit check and the chances are good that you won’t have to have your home appraised. There’s more.
The unlimited loan-to-value ratio means that you can take advantage of this program even if your home has lost value or is currently underwater. There are minimal fees and little in the way of out-of-pocket expenses of any kind. All that’s important is that you have an existing FHA loan and that you’ve been on time with your payments for at least the last 12 months.
It’s also likely that you won’t even have to sit down across the desk from your loan officer. This program adds convenience in your ability to apply online or by phone in most situations. You might get sent paperwork you’ll have to sign and mail back, but that’s likely to be about as tedious as things will get. We think you’ll find the entire process to be simple, brief and, well, streamlined.
Sound quick, easy and affordable? It is. It’s also got the ability to offer major benefits to your household budget. Now let’s get an idea of current FHA streamline rates and see just how much of an advantage a refi in this innovative program can deliver.
FHA Streamline Rates
Can you easily and conveniently cut the interest rate on your current FHA home loan? Check out this page of our website for additional details and to crunch the numbers for yourself. Many people are amazed to learn just how much they can save over the life of a home loan.
Would you like to permanently lower your monthly house payments and put that money right back into your own pocket? Who wouldn’t?
The FHA Streamline Refinance Program just might be the quickest and easiest way you’ve ever imagined being able to increase your monthly cash flow or boost the equity in your home. We advise you to explore the potential today.
