Financing in Stockton>Question Details

Rollow484342, Home Buyer in Stockton, CA

I want to know what other options i have to get a better interest rate if i cant qualify for fha streamline refinance due to my credit score

Asked by Rollow484342, Stockton, CA Sat Apr 17, 2010

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Rollow484342

Although FHA guidelines do not require an appraisal or a certain credit score to streamline, given what happening with home values today, lenders now do. Right or wrong, fair or not, that's the way it is for now, and I don't know any other lenders or brokers that have not followed suit. Especially in MI, CA, FL, and Ohio.
0 votes Thank Flag Link Sun Apr 18, 2010
FHA streamlines do not require a credit score. If your lender is forcing you to use a credit score or an appraisal you should get a second opinion. FHA streamlines do not require either one of these as long as you do not exceed your original loan amount and as long as you do not take any cash out.
0 votes Thank Flag Link Sun Apr 18, 2010
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