I wanted to pull back up the FHA Streamline Loan… Some of you may be asking what does this mean... An FHA Streamline loan allows you to simply reduce the rate of your existing mortgage without providing documentation of income, and without paying for an appraisal! So, no matter what the value of your current home is, we can still do the loan and lower your current interest rate! We do not have to collect W2’s, tax returns etc… I have had numerous people contact me about this loan as it has been very popular lately for those with existing FHA mortgages! There are no hidden fees, and no catches to this loan! Typically the lender pays for your closing costs as your existing loan amount cannot change. Therefore your current balance will remain the same! You will receive a partial refund from your current mortgage insurance as well. And the bonus – you will skip a mortgage payment for the following month dependent upon when your loan is closed. If you have any FHA loan right now, there is no reason that you shouldn’t take a look at this program! It simply helps save money coming out of your pocket each month, and tens of thousands in the long run from a reduced interest rate.
If you are not sure whether or not you have an FHA loan, please feel free to get in touch with me and I will be more than happy to help you out!
Also, remember all consultations are FREE and I am more than willing to discuss your scenario with you regardless of the circumstance!
Take care,
