FHA Streamline with No Appraisal is back!
The FHA streamline refinance is used to lower the monthly interest due on FHA mortgages. In today’s historically low interest rate environment, almost all homeowners are benefiting from this interest rate reduction. In 2015 thousands of our clients just like you saved hundreds of dollars a month. Some of our clients refinance to a lower term, pay their home off faster, and pay the same amount monthly!!! The process is quick and easy with very little documentation required. Click here for a Free Rate Quote. Visit FHA Rates to learn more about current interest rates and information.
Keep in mind to qualify for a FHA Streamline your current loan must be a FHA loan. If your current loan isn’t a FHA loan don’t worry, we have many options. We may be able to do a traditional FHA refinance (see FHA Cash Out guidelines) or perhaps another type of loan.
FHA Streamline Refinance
|Max Loan Amount:||varies by county|
|Credit Score:||Not Required|
|Interest Rate:||Current market|
Benefits of an FHA Streamline
- Typically, no out-of pocket costs. If lowest ate selected and costs due can use escrow account advance to cover funds due at closing.
- No income verification
- Lower rate
- Pay your loan off faster by going to a lower term
- Defer 2 mortgage payments
- Get up to 5% of value (see for max Energy Efficient improvements to your home by adding the “EEM” feature)
- No appraisal necessary*
- Can be done on primary residence, or investment occupancy.
Energy Efficient Mortgage Option:
An exciting trend today is cutting down on our energy consumption. There are many things we can do to cut our energy use and save money. The FHA Streamline program allows for up to 5% of value to be rolled in for qualified energy efficient improvements to be added to your mortgage as long as there is a “benefit” to the borrower shown as a net savings. FHA Loan Group.Com has a helped many FHA home owners complete an energy efficient mortgage and reduce their future energy costs. Most recently, we have put together a turn key energy savings package that can be rolled into the streamline refinance. Go to our Energy Efficient Mortgage Loans page to learn all about the Energy Efficient Mortgage and its qualifications and applications.
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*Limited time OAC