RefinanceF H A

What is an FHA Streamline Refinance

The FHA refinance program is called a “StreamlineRefinance” because it reduces the amount of

documentation you are required to provide and it relaxesthe underwriting requirements.

General FHA StreamlineRequirements:

Your mortgage must already be FHA insured.Your mortgage should be current.The streamline refinance must benefit you bylowering your payments or converting from anadjustable rate mortgage (ARM) to a fixed-rate.No cash out is allowed.

What You NeedThings you need to comply before getting your

mortgage refinanced:

210-day “waiting period”6 mortgage payments on existing FHA loanPerfect 3-month payment historyNet Tangible Benefit or “Purpose”

What You Don’t NeedLoans backed by the FHA are known to be relativelyeasy to qualify for because of these things borrowers

don’t need to undergo:

Employment VerificationIncome VerificationCredit Score VerificationAppraisal

Finding theBest FHA LenderBestFHALender.com is a one-stop shop offeringuseful information about FHA loans and enablingcustomers to shop for multiple lenders.

Click here to learn more

Information Provided byJUSTIN MCHOOD

He is Americas Mortgage Commentator andhas been providing Mortgage commentary for

over 10 years.

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