FHA Streamline Refinance

Our Lenders offer no cost refinancing with the "FHA streamline" for lower refinance rates and monthly payments. According to the Federal Housing Administration, one of the many benefits of the FHA streamline refinance is the freedom borrowers get by having a FHA loan with no penalty or charge for refinancing or early-pay-off. For example, if you buy a home in August and the FHA rates decline in October, you can get a FHA streamline refinance as long as your monthly payment is reduced. Most FHA borrowers cherish the power of FHA streamlines because it takes the pressure off if you know you can always refinance when you need to. If you presently have an FHA mortgage on your primary residence, there is a good chance you may qualify for a no cost streamline refinance that lowers your FHA interest rate and reduces your monthly mortgage payment without increasing the principal amount owed on your first mortgage. FHA streamlines provide a rare opportunity for FHA borrowers to refinance any time the interest rate drop to level saving them more than $50 a month. Guidelines on FHA streamlines could be changing, so ask your loan agent how this could impact the FHA streamline program. In breaking news, the President recently expanded the Home Affordable Refinance Program to include the government streamline as well.

Compare Rates and Terms on Low Cost Refinancing on FHA Streamlines!

With the current refinance rates this low it makes sense to reduce your monthly payment if you have a government insured loan. FHA customers should keep their eye on FHA streamline rates because if the rates fall a streamline refinance is a great way to save money with lower interest rates. Many FHA borrowers may be able to refinance FHA loans with higher loan amounts. Take a minute and see how much money you can save annually with a streamline loan. FHA streamline rates for have dropped to 3.25%. (3.34% APR)

Ask About No Cost FHA Loans and
Reduced Closing Costs on Streamline Refinancing

FHA streamline rates have fallen to the lowest level since Eisenhower was President!  FHA streamline rates are as low as or even lower than conventional interest rates so don’t sit back waiting for lower rates.  If you have made your loan payment on time and you already have a government loan, the FHA streamline refinance programs are easy to qualify for. 

With the FHA streamline, no income documentation is required so if you have had debt to income ratio problems before, apply now for a streamline refinance. Equity should not be an issue either, because in most cases, the FHA streamline mortgage does not require an appraisal. FHA rates have never been more attractive so act now and lock into the lowest streamline rates in years.

FHA streamline loans are highly regarded for FHA customers who have an interest rate over 7% or have an adjustable rate FHA mortgage that has a teaser rate about to expire. FHA customers find themselves in the unique position of being to refinance their mortgage without the documentation requirement that conforming loan customers must go through to qualify for mortgage refinance loans. FHA loans offer first time homebuyers and bad credit borrowers an affordable low rate home mortgage.

FHA Customers May Qualify for a Streamline Refinance with No Cost and Lower Rates!
FHA mortgage lenders in every state continue to endorse FHA streamline loans for existing FHA clients seeking a better interest rate or more affordable loan terms. Today's fixed rate streamline loans are offered at record low interest rates, so get approved while the payments and rates are at rock bottom. Even if you fear the value of your home has declined, many FHA streamline mortgages do not require a new appraisal!

Breaking News for homeowners that already have an FHA mortgage:

The Federal Government Expands the FHA Streamline Program for Refinancing
The President announced more steps to help struggling homeowner. His new plan was created in an effort to stimulate a recovery to the housing sector. With the expanded criteria for the FHA streamline refinance, even borrowers that are strapped with an underwater mortgage may have a new solution to their refinancing woes.

Key Criteria for FHA Streamline Refinance                           

- No late payments on your loan for the last year. (12 months)

- This refinance loan must demonstrate a net savings of at least 5% in your monthly principal, interest and mortgage insurance payments, This new streamline refinance program will go into effect on June 11, 2015.

With the federal and state governments pushing for mortgage rate reductions in 2012 and 2013. Rates for streamline loans have dropped again. Many FHA lenders report lower mortgage rates for streamline refinance loans that are helping existing FHA customers save money every month.

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Since rates are low and property values are rebounding more and more FHA borrowers are reevaluating FHA with the streamline refinance. Get a free rate quote for the FHA streamline loan today.