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If you currently have an FHA mortgage, the FHA streamline refinance program is a fast, easy, and inexpensive way to lower your mortgage rate and monthly payment.
- No appraisal
- No income qualification
- No credit check (except mortgage pay history)
- LOW cost
- Easy, no hassle process
Qualification requirements:
1. Must have stable employment in same line of work for at least the past 2 years. Exceptions are possible.
2. No cash out allowed- can only refinance existing balance.
3. Maximum of one 30 day late on your mortgage over the past 12 months.
4. No other non-mortgage liens on your home's title (tax liens, judgements, etc).
5. Must currently have an FHA loan (streamline is an FHA-to-FHA transaction).
Does an FHA streamline refinance make sense for me?
At the time of this article (February 2008), if your interest rate is at 6.5% or higher, a streamline refinance makes sense.
Fill out our no obligation quick quote tool to find out if you qualify!
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