Streamline Refinance – If you currently have a FHA Home Loan you might be able to refinance and streamline the entire process using a FHA Streamline Refinance. The main goal of the FHA Streamline Refinance is to allow homeowners the ability to quickly reduce their interest rate and payment amount with minimum documentation required.
In order to be eligible for a FHA Streamline Refinance your current mortgage must already be FHA insured. The mortgage that is to be refinanced must also be current and up-to-date on all payments. In addition, no cash may be taken out on the mortgage.
Of course, if you are a Veteran you are most likely eligible to convert your FHA mortgage into a VA loan through a simple refinance. The benefits of this approach are numerous, most notably the no mortgage insurance benefit that come with a VA loan. This benefit alone could save an eligible Veteran hundreds of dollars per month and thousands of dollars over the life of the mortgage.
If a FHA Streamline Refinance sounds like the solution you’re looking for or you would like to explore the possibility of converting your current FHA loan to a VA loan then complete the form on this page and one of our Home Loan Experts will contact you shortly.