New Monthly Mortgage Payment | |
Cash Required To Close | |
New Loan Amount | |
With No Contact By a Loan Officer Unless You Request It |
Reduce your monthly mortgage insurance premium by up to 37% | |
Lower your monthly mortgage payment | |
Skip up to two mortgage payments | |
Receive back from your current loan servicer a refund of the money held in your escrow account | |
Take advantage of today’s historically low interest rates | |
Refinance with our No Closing Cost option |
Streamline FHA-to-FHA Refinance Loans – Not For Everyone.
The FHA monthly mortgage insurance premium (MIP) has changed over the years. This means that FHA borrowers who completed their FHA loan with a:
FHA Case Number assigned after June 3, 2013 SHOULD CONSIDER a FHA Streamline Refinance to lower their monthly MIP and possibly lower their interest rate | |
FHA Case Numbers assigned between June 1, 2009 and June 3, 2013 probably SHOULD NOT complete a FHA Streamline Refinance as the current monthly MIP will end at 78% loan-to-value and the new monthly MIP will last for the life of the loan | |
FHA Loans endorsed prior to June 1, 2009 SHOULD REFINANCE under a special program launched in 2012 that virtually eliminated the new Upfront MIP cost as well as maintaining low monthly MIP payments to the borrower. Call for more information |
Refinancing Is Easy. With a Streamline FHA-to-FHA Loan, FHA Borrowers with a 6 month on-time mortgage payment history (i.e. monthly mortgage payment can’t be made more than 30 days late) can refinance with:
No appraisal report required | |
No income verification | |
No minimum credit score (if your credit score is less than 640 call for an interest rate quote) | |
mortgage only credit report | |
Both primary and non owner occupied properties allowed | |
210 - Day "waiting period" between refinances |