Home Buying in Fremont>Question Details

upram123, Home Buyer in Fremont, CA

FHA streamline MIP

Asked by upram123, Fremont, CA Fri May 24, 2013

I bought a house on Nov 30 2012, thru FHA 5/1 ARM and I would like to do a stremline refi but the 210 days reuirement will be met on june 30 2013.

my question is will I be able to open a new FHA case number before june 3rd and close the loan in july. so that I could avoid the new MIP.

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Answers

4
if you have 22 % equity ,15 years fix you loan case open before 2nd june you can avoid Monthy M I
0 votes Thank Flag Link Fri May 24, 2013
so you mean to say if i apply before june 3 i can avoid new mip?
I am looking for stremline and not the regular fha refi.
let me know if thats possible
Flag Fri May 24, 2013
If you put 20% down you can avoid PMI on FHA loans.... if not... you have no ways to avoid it.
0 votes Thank Flag Link Fri May 24, 2013
You have to pay the new Mortgage insurance.
0 votes Thank Flag Link Fri May 24, 2013
HI Upram call me 510-299-9361. I can check it for you with my loan department Thanks
0 votes Thank Flag Link Fri May 24, 2013
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