Customers who already have a government mortgage with FHA are eligible for a streamline refinance loan for lower mortgage rates. A FHA streamline is a type of refinance that enables FHA clients to do a rate and term refinance loan quickly with reduced closing costs. When the interest rates drop, streamline refinancing activity increases, because so many FHA customers are keen to the advantages and benefits of FHA streamline loans. No cash out is allowed with streamline loan and you must already have a FHA loan that you have not been reported late on in the last few years.
FHA streamline guidelines offer 30-year terms with no-pre-payment penalty charges, so if a borrower wants to sell their home, refinance or pay off their mortgage early. Smart Home Equity can help you lower your monthly payment with a low risk FHA loan that best meets your needs. Our licensed loan officers can provide you a superior level of financial expertise that you need in today's complicated market place.
FHA Home Mortgage Options for Homeowners with
Good and Bad Credit