About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs

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Filed under FHA streamlines

The new, lower FHA mortgage insurance rates kicked in just last week. The new FHA policy reduces the previous FHA mortgage insurance rate by more than half of a percent. For many homeowners that represents a savings of thousands per year on FHA mortgage insurance alone.

If you have an FHA loan now, the way to reduce your FHA mortgage insurance costs is through the FHA streamline program. An FHA streamline is a refinance from on FHA loan to another. It is called a streamline because the process is much simpler than a traditional refinance in that an FHA streamline does requires no appraisal and no income verification.

Contact us in the form in the sidebar today if you have and FHA loan now. With mortgage interest rates approaching all time lows, now is a perfect time to look into streamlining your FHA loan to a better rate with lower mortgage insurance.

(Note: VA loan have a similar streamline program so contact us if you have a VA loan as well.)

Comments (0) Posted by G.R.A. Admin on Wednesday, February 4th, 2015