The FHA Streamline Refinance is an amazing Government Loan that is available for current FHA Home Owners that currently have an FHA Home Loan. Home Owners that qualify can refinance and reduce their interest rate with little to no closing costs and with out having to get an appraisal.
Benefits of the FHA Streamline Refinance
- No Appraisal Required
- Lower Your Interest Rate & Payment
- No Lender Fees
- Borrower Gets a refund from their previous Mortgage Insurance Premium
- Reduce Your Monthly Payment
- Less Documentation Required
- No pre-payment penalties
Requirements of the FHA Streamline Refinance
- The borrower must have made at least 6 months payments on their Mortgage
- No more that 1 Mortgage Late in the last 12 months of having the mortgage
- Still employed and be able to qualify for the new Monthly Payment
- Save at least 5% of the Monthly Payment (Principle & Interest Payment + Mortgage Insurance Payment)
- Have a credit score of at least a 640 or above
Did you receive their Mortgage Prior to May of 2009?
Borrowers that received their FHA loan prior to May of 2009 may qualify for the FHA HUD BILL that was passed by president Obama. This bill allows FHA home owners to refinance at a lower interest rate and keep their Monthly Mortgage Insurance at the same rate they currently pay. The financed Mortgage Insurance is reduced to .01% of the loan amount. This allows for a significant amount of monthly savings for FHA home owners.
Megastar Financial is a Redding Ca FHA Streamline Direct lender that is licensed in all of California. If you would like to get started on your FHA Streamline or would like more information you can also give us a call anytime.
We'd Be More Than Happy to Watch Your Rate for You.
Would you like Pete to watch your Interest Rate for you? Give us some basic information on your loan and Pete will contact you when he can lower your interest rate and lower your monthly payment.
13 Down Payment Programs you have NOT heard about - Get The Facts
- Other lenders will not share these programs with you
- These programs are for your 1st or 2nd Home
- Instructions on where to apply for these programs
How To Shop For Your Mortgage
- Learn the 3 ways to pay closing costs
- Learn how to avoid paying PMI or Mortgage Insurance
- Learn how to shop for your mortgage
- Learn how to get the lowest interest rate and the lowest closing costs