If you’re looking for a loan with flexible credit requirements and a more manageable down payment, an FHA Loan—backed by the Federal Housing Authority—may be just the ticket.
Government-backed FHA Loans offer competitive rates, flexible credit requirements, and down payments as low as 3.5%. An FHA Loan is a great option for people who may not qualify for a conventional loan.
Both up-front mortgage insurance and monthly mortgage insurance are required for FHA Loans, while they can be optional in other situations. You’ll also be required to have an escrow account to stay on top of your property taxes and insurance payments.
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Rates today are low, but that could change quickly.
Talk to one of our expert mortgage professionals now and learn about your options for locking in great new loan terms.
FHA STREAMLINE LOAN
FHA Streamline Loans are a unique refinancing option for borrowers who already have an FHA loan.
Compared to many other loan types, the process of applying for an FHA Streamline refinancing is quicker and document requirements are simpler. And even if your equity is currently negative, certain types of FHA Streamline loans could still lower your payment.
Like any refinancing, there are fees involved. Also, an FHA Streamline may extend the term of your loan. The fees can offset any savings for a while, and a longer term could mean higher lifetime interest costs.
GREAT REFI OPPORTUNITIES FOR FHA BORROWERS
Your FHA Loan is there to help you make your home ownership dreams reality. By applying for an FHA Streamline refinancing, you could make it an even stronger asset. An FHA Streamline refi offers a simple application process and an opportunity to lower your monthly payment if you qualify.
It's called "Streamline" for a reason: It's a simplified application process that doesn't require income verification (for non credit-qualifying loans) or a property appraisal.
YOU COULD LOWER YOUR PAYMENT
Many homeowners who successfully apply for FHA Streamline refinancing enjoy new loan terms including a lower monthly payment amount. Talk to one of our mortgage professionals about today's rates and your potential savings.
You don't need perfect credit to apply for an FHA Streamline. If you have an FHA Loan, give us a call and let's see what we can work out -- even if you haven't qualified for other types of refinancing.
What type of loan are you interested in?
Your loan shouldn't be one size fits all. It should be the one size that fits you.
Found the home of your dreams and having trouble qualifying or not sure you will? Curious about different types of home loans products? Not sure if you are ready to apply for a loan? We get it, there is so much confusing information out there we wanted to have a straight forward approach to our service with no hype, gimmicks, haggle, hassles or salesman. Whether you are looking to buy or refinance our expert staff members are excited to assist you achieve your dream.