FHA Streamline Refinance
The FHA Streamline Refinance is just another advantage to obtaining an FHA-insured loan. For those that already have an FHA loan they have the opportunity to refinance there existing FHA loan into another FHA loan threw the Streamline Program. Borrowers that are current on there Mortgage and have not had any Mortgage payments more than 30 days late in the past 12 months may be able to take advantage of todays low interest rates without re-qualifying for there loan. Below are a few benefits of the FHA Streamline Refinance:
No Appraisal needed: In many situation there is no appraisal needed, saving you money and avoiding the potential problems with declining home values.
No Income Documentation needed: Verbal verification of your employment with out Income information is all that is needed from you employer.
Fast and Easy: With the streamline process you can generally close your loan in about half the time as a traditional refinance.
Low Cost: General the cost involved in a Streamline is significantly less than a traditional refinance
