The FHA offers a special refinance program called the FHA streamline refinance that requires very little documentation to get approved. If you currently have an FHA mortgage, the FHA streamline refinance may help you fast-track your efforts to lower your home loan payment – with fewer steps and less stress.
Homeowners can get a streamline refinance to take advantage of todays low interest rates, and lower their FHA MIP (mortgage insurance premium). The average borrower saves between $150-$250 a month. With mortgage rates on the rise in 2017 now may be the best time to looking into a refinance. Please visit the HUD website for more information.
If you are an FHA mortgage borrower you may be eligible for new lower rates that started last year on January 25, 2016. FHA is made a change that will allow borrowers to use FHA streamline mortgage refinance options that lowers the annual rates! There will be a point reduction on the annual Mortgage Premium [.]
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FHA Loans – FHA Refinance – FHA Rates – FHA Refinancing – FHA Home Loan The FHA Home Loan refinancing company helps people get approved with no cost loans for FHA refinance or house buying. Shop for low FHA mortgage rates with fixed interest for cash out, streamline refinance or home purchase that meet guidelines.
Benefits of FHA Loans: Low Down Payments and Less Strict Credit Score Requirements. Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit.
FHA refinance rates Current FHA rates are some of the lowest in history. According to Ellie Mae’s January 2019 Origination Report, the average 30-year rate on FHA loans decreased to 5.05 percent. This keeps FHA rates on par with conventional loan rates at 5.04 percent.
Another big plus is that FHA mortgage rates are the same in the FHA Streamline Refinance as with a "regular" FHA loan. There’s no penalty for being underwater, or for having very little equity.
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FHA Loan applicants must have a minimum FICO® score of 580 to qualify for the low down payment advantage which is currently at 3.5%. If your credit score is.
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