When a homeowner refinances an existing FHA loan to another FHA loan it is called “streamlining”. If you already have an FHA loan, refinancing to a better rate is particularly easy. There are some requirements for streamlining, including income requirements and a solid history of payments on the existing loan; but one advantage of a streamline loan is that there is no appraisal required — an FHA loan can be streamlined even when the home is currently worth less than the outstanding loan amount.
If you have an FHA loan now and think you might benefit from refinancing to better terms contact us today.
Posted on 31 Oct
