FHA Streamline Refinance Rates - Novmember 27, 2009
Posted under: Financing in Atlanta
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September 15, 2009 6:40 AM |
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The FHA Streamline Refinance program allows home owners with current FHA loans to refinance with NO income documentation, NO asset documentation, and NO appraisal.
FHA 30 year fixed Streamline Refinance Rates are at an ALL TIME low 4.5%. ****UPDATE 11/26/2009 - There has been a change and the minimum credit score for the FHA streamline refinance loan is 640. FHA streamline refinance rates for a 640 credit score are extremely low now and the FHA streamline refinance loan enables many borrowers to refinance to a lower rate with no qualifying documentation.
Mortgage payments over the last 6 months must have 0 payments that have gone over 30 days late. The 6 months prior to that can have 1x30 day late payment max in order to be able to refinance under the FHA Streamline Refinance program.
Current FHA Streamline Refinance Rates as of November 26, 2009.
640 minimum credit score required on all FHA streamline refinances
30 year fixed FHA Streamline Refinance Rate - 4.5%
5/1 Arm FHA Streamline Refinance Rate - 3.875%
30 year fixed JUMBO FHA Streamline Refinance Rate - 4.75%
5/1 Jumbo ARM FHA Streamline Refinance Rate - 4.125%
We are a HUD/FHA approved Bank owned lender with "A" rating at the Better Business Bureau.
*****Click on Rates above for quick quote - No Social Security Number required - on an FHA Streamine Refinance Loan.
FHA Streamline Refinancing:
FHA does not place any limitations or restrictions on the amount of times you can refinance under the FHA Streamline Refinance Program as long as it makes sense and benefits you.
Since there is very little paperwork and NO credit qualifying, NO debt to income ratios, and NO appraisal it is very simple and easy. This makes any savings worth while on a new lower 30 year fixed FHA Streamline Refinance Rate.
FHA limits the new loan amount on the FHA Streamline refinance to the balance of the loan being refinanced + the new up front mortgage insurance premium - any refund of the old up front mortgage insurance premium. The maximum loan amount on the new FHA streamline refinance is easily determined by the professionals at www.mychartermtg.com/FHA-Streamline-Rates.html
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With home values plummeting over the last 3 years the FHA Streamline Refinance is an excellent option for many home owners with current FHA loans. Taking the appraisal out of the equation eliminates not only time and money ($400 - $450) for an FHA appraisal, but also valuation issues that arise due to lack of comparable sales or even an overabundance of foreclosure sales in the immediate area.
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This is an excellent time to lock in your savings on the FHA Streamline Refinance while FHA Streamline Refinance Rates are at an ALL TIME LOW.
Apply online today or get a quick quote with no social required. It's fast, easy and FREE.
Thanks very much for reading and Watch for future posts from:
Jeff Hutchison - Senior Loan Officer with 15+ years experience
jhutchison@mychartermtg.com 888.280.5577
www.mychartermtg.com
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