Monday, May 11, 2009

FHA Streamline Refinance...

I attended a presentation given by a representative of HUD last week, and got some great information about an FHA program that many folks are unaware exists!

The FHA Streamline Refinanace is pretty slick...if you have an existing FHA loan on your home and you have made on-time payments for the last 12 months, you may qualify for a refinance of your existing loan if you are not taking cash out, and the overall goal is to lower your principle and interest payments.

Credit scoring is not a factor. Value of your home is not a factor as no appraisal is required if your new loan amount does not exceed the previous loan amount!

If you are interested in finding out how to refinance your existing FHA loan to take advantage of the really LOW interest rates we are experiencing in the market today, call me and I can put you in touch with someone who can assist you!

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