FHA Streamline Refinance Loan Program

FHA refinance is an excellent option to refinancing your existing FHA loan. Refinance means taking out a new mortgage that you use to pay off your current mortgage. FHA steamline refinance is much simpler than that of a standard refinance. Borrowers are not even required to to fill out a new application, nor do they need a new appraisal as the FHA allows borrower to refinance using the original value of the home.

FHA streamline eligibility guidelines

• You must already have an FHA-insured mortgage.
• You must receive a 'net tangible benefit'.
• Must have made at least 6 payments on your current FHA mortgage.
• It's been 210 days since your FHA loan closed.
• No late payments in the last 6 months
• You must pay mortgage insurance premiums
• You must have made all mortgage payments on time for the three months prior to applying for the FHA streamline refinance.

Types of FHA streamline programs

Non-credit streamline loan

A non-credit FHA refinance is a type of FHA streamline refinance that allows borrowers to refinance their FHA-insured mortgage without a credit check

Requirements to qualify for a non-credit streamlined refinance.

• The mortgage borrower want to refinance must be insured by the FHA.
• Borrower must be current on your mortgage with no delinquent payments.
• The borrower must get a net tangible benefit, like a lower interest rate or a fixed rate.
• Borrower must have made a minimum of six months of on-time payments on your FHA insured loan and six full months must have passed since you made your first payment.

Credit qualifying streamline refinance

Credit-Qualifying streamline refinance?? requires you to provide income documentation. Lenders offering this type of Streamline refinancing are required to verify your income, check your credit and confirm your debt-to-income ratio.

Premium Mortgage Demo team specializes in FHA-insured loans. We can help you qualify for a FHA Streamline Refinancing loan program that offers you the best possible interest rate with lower monthly payments.

If you're interested in FHA streamline refinance call 877 123 XXXX or click the button below to request a free consultation with one of our mortgage advisors.

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