FHA Streamline Refinance

Refinancing programs using the FHA loan include Streamline, Cash-out & Rate Terms Refi's.

One of the major benefits of having an existing FHA loan is the ability to do a streamline refinance. Having already been approved by HUD once for a government insured FHA product, doing a streamline refi to improve your existing interest rate, or shorten your loan terms is pretty straight forward and comes with reduced fees for closing.

If you don't presently have an FHA mortgage, you will not be eligible for a streamline mortgage, however, we can refinance your existing conventional or sub-prime loan into a FHA loan that will allow you to take advantage of the FHA streamline program in the future! Learn more! Call 1-888-427-5442 or use our quick quote to get started.

With the FHA streamline mortgage program, so long as your loan payments have been on time for the prior 12 months, you can inexpensively take advantage of any improvements in market interest rates. Even if you had a "payment" bump in the road, you can still possibly qualify for a streamline mortgage refi with the right circumstances!

The process of refinancing an existing FHA product is called a "FHA Streamline" loan due to the fact it requires reduced documentation, and in many instances, requires no appraisal. Speak to one of our FHA specialists at 1-888-427-5442 or use our quick quote to begin the application process for your next streamline refinance.

FHA Streamline Requirements

HUD has really simplified refinancing existing FHA loans.

Conditions include:

• Your loan must already be an FHA HUD insured Loan
• The FHA loan must be at least 6 months old
  
• The refinance must lower the principle and interest payments by more at least $50.00 per month or be converting from an ARM to a Fixed Rate mortgage.
  
• The mortgage must have been on time for the most current 12 consecutive months and no present late's/defaults on any government loan
  
• You cannot receive cash back
  
• An appraisal is required if rolling in your closing costs
  
• Any existing new liens, must subordinate to the new mortgage

Refinance Mortgage using FHA

For homeowners who presently don't have an FHA loan, refinancing an existing mortgage into an FHA home loan may be the best option for you. The FHA mortgage program offers some of the best benefits as compared to like-kind conventional mortgage programs presently being offered. FHA Refinance benefits include:

• Easier Qualifying
• Lower interest rates Vs. Conventional loans which are based on LTV and Credit score Factors
• Higher LTV's
• Comparable closing costs
• 30 year and 15 year refi options
• Added protections for foreclosure intervention
• Streamline Refinancing - Should rates go down at a later date, you can streamline refinance your existing FHA loan to take advantage without many of the costs associated with a traditional refi.

Similar to conventional products, using the FHA loan to refinance your existing mortgage really can make a lot of financial sense for most borrowers. Learn more about refinancing your existing mortgage using the FHA loan product by calling 1-888-427-5442 or use our quick quote to get started today!

FHA Cash Out Refinance

Whether you have an existing FHA Loan or a Conventional Loan, FHA may be the answer for that cash out you're wanting for debt consolidation, or even home improvements.

With easier underwriting guidelines and great terms, FHA literally invites you to participate in their programs.

One of the biggest benefits that FHA offers is Low rates for everyone. With FHA, "The Rate, is The Rate, is The Rate". There are no adjustments for cash out, no adjustments for loan to value, there are no adjustments for credit score!

If you qualify, you get the same great rate no matter what and you can borrow up to 85% of the appraised value of your home. Learn more about getting cash-out using the FHA refinance program by calling 1-888-427-5442 or use our fast quick quote to get started.