If you currently have an FHA loan, you can refinance your current loan and lower your interest rate without proving income, and without paying for an appraisal! Simply take your existing loan and just lower the rate - that simple. You may also be eligible for a partial mortgage insurance refund! Give me a call and save yourself more money each month. I wanted to clarify a few things about FHA streamline refinances.. The first thing that you should know is that the loan amount
can't change. The existing loan amount acts as a cap... The reason for stating no closing costs is the lender
generally pays for the closing costs in these situations depending on the interest rate.. Most people do not have an extra $2000 - $2500 for bare bones closing costs, plus a pretty standard 1% origination fee on top of that laying around to put on the table for a refinance to keep their loan amount the same.. (Or if they do, most like to hold on to the extra cash and just roll the refinance costs back in to the loan) As stated however, this cannot take place in this situation as the loan amount must stay the same. Sometimes it is achievable to obtain a slightly lower interest rate if one would like to pay for the closing costs out of pocket – yes.. Ads that state no closing costs are simply stating the generality of the situation and what is most commonly done by the consumer. And one nice feature of an FHA streamline refinance is the fact that decreasing housing value does not affect this loan! So regardless of the value, you can lower your rate as the loan amount is based off of the original appraised value of the property.
With 48 hour banked turn times, and the ability for 5-7 day closings if need be, I feel that Allied Home Mortgage is one of the best companies around! We now have a new system that is going in to effect where we not only continue to service our own loans, but we will begin working on a program with most credit unions and banks in the area.. What I mean by this is – when you walk in to your local credit union or bank to sit down with your loan officer and discuss a loan, our company (Allied Home Mortgage) will be the one offering the services and loan programs available to you! That is great news as it is allowing your local bank / credit union to offer a much more extensive list of programs that will help you as the consumer to get your loan done! I will update you with more information along the way! I have had numerous success stories with many realtors in my area that have called me out of the blue for those trying to buy a new home in a very short time period; and after the bank they were dealing with took almost a month to a month and a half only to announce considerably more time was needed, I was able to start the loan and close it in 5 to 7 days!
Professionalism, education, efficiency, clear communication, persistence, and being ethical are a must in today’s markets! Being able to offer all of those and more, I feel that I can make your home buying or refinancing decision one of the smoothest and best transactions you'll ever have!
(As some situations require more attention and certain circumstances may arise, I am speaking from the vast majority of my business that I have completed)
Rates are phenomenal right now – don’t miss out on the opportunities available to you!
