What if you could save $50 on your FHA mortgage payment every month? What about if you could save $100? Maybe even $500 or more? You could use those extra funds to make some home improvements, go on that vacation you’ve been waiting to go on or even get the boat you’ve been wanting! Regardless of what you would do with that extra money, it’s our pleasure to help you get the best refinancing option that suits your individual needs.
At this point, you’re probably wondering… “How do I refinance my current mortgage, so I can start saving money as soon as possible?” The great news is, refinancing your current FHA mortgage may be easier than you expected! There’s a great option to refinance an existing FHA loan that is streamlined and helps to create a simpler way to get the refinancing you desire. With this option, you’ll be surprised how much easier it was than expected and be on your way to doing the things you love!
Thanks to the FHA Streamline program, refinancing your current FHA loan has never been easier! To be eligible for this great program, borrowers must have 3 months of payments that were on time and have no missed payments or late payments. FHA Streamline requires borrowers to have at least 210 days since their purchase or the last time they refinanced. We always want to ensure that there’s a clear monetary benefit for the borrower to refinance and that the interest rate can be lowered, when applicable. Employment, income and credit scores are not typically verified with the FHA Streamline, which usually leads to faster refinancing for you! Appraisals are not required for this refinance either and with all of these factors combined, it creates one of the fastest ways to potentially lower your monthly payment!
What will your next step be?
Do you currently have an FHA mortgage and want to explore refinancing options? Have a rate or term on your current FHA loan that you would like to change? There has never been a better time than now to save your money and utilize your savings to do more of the things you want to do in life! If you are ready to get started in the refinancing process, have questions about programs or simply want more information, I am happy to help! I would love to assist you along the way in this process, so call, text or email today to get started!