If you are currently in an FHA home loan program through HUD, if you were unaware that this program has a built in feature that does not require an appraisal on your home or income documentation. Without these two items, it makes refinancing so much smoother than when you purchased your home. It also works on investment properties that have an FHA loan on it.
- No appraisal required on the streamline, benefits are:
- Loan amount does not need to be supportive with an appraisal, saving on an appraisal cost
- No Income Documentation required:
- no need for paystubs, W2s or 1040s, saving time looking for this paperwork
- No Underwriting charge, saving even more money on the cost of the refinance
- Skip a mortgage payment, countless of bills you can pay by skipping a monthly payment
- Receive your escrow impound account funds back when your current is paid in full
- Start saving on your very first payment on the new loan
So if you have a question on how to save on your mortgage payment or how can I lower my FHA interest rate, then let’s get started right away and see what is available to you. Click on the application and we can discuss your savings.