What Is A Fha Streamline Loan

The FHA Streamline Refinance program gets its name because it allows borrowers to refinance an existing FHA loan to a lower rate more quickly. Avoiding a lot of paperwork, and often without an appraisal, the streamline option saves borrowers time and money.

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The FHA also has another streamline mortgage product that will help you modify or improve your home. It’s called an FHA Streamline 203(k) Loan, and it will make anywhere from $5,000 to $35,000.

FHA Streamline Refinance Loans from Trident Home Loans for homeowners with existing FHA mortgages who wish to refinance their mortgage.

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There is another Streamline product made for those who want a refinancing plan to help them modify or improve the home. This is known as an FHA Streamline 203(k) Loan. The 203(k) is similar to ordinary Streamline loans with a few exceptions. The 203(k) has a minimum of $5,000.

Drew Mortgage offers an FHA Streamline home loan program for homeowners with existing FHA Mortgages. Contact us and get the benefits of fha loans today!

What is an FHA loan? An FHA loan is a government-backed mortgage insured by the Federal Housing Administration, or FHA for short. Popular with first-time homebuyers, FHA home loans require lower.

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3. Down payment: Down payments vary based on the type of loan program. Veterans may be able to buy with no down payment.

FHA streamline refinancing allows borrowers to get a lower rate on their existing FHA loan. Learn more about the why and how to refinance an existing FHA loan .

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Unlike other mortgage refinance options, the FHA streamline refinance program offers borrowers with an existing FHA mortgage a new FHA-insured home loan without requiring an appraisal or any documentation of income or assets.

For a 30 year fixed fha Streamline refinance mortgage. If your current FHA loan was closed before May 31st 2009 you will only have a .01%.