As you have probably heard, mortgage rates are at an all time low. But don’t head into your new refinance blindly. Know your options!
One of my favorite programs I recommend to clients who currently have an FHA loan is the FHA Streamline Refinance. It’s a great program that can not only lower your interest rate but significantly lower your monthly payment. Here’s why I love it!
- There are no closing costs
- You may not need to get an appraisal
- You’ll get new fixed rates which are currently at an all-time historical low
- You don’t need your income documents to get approved
- If you’re refinancing an FHA loan that was taken prior to May 31, 2009, you can get a reduction in your monthly mortgage insurance and you can waive the upfront mortgage insurance premium.
Want to talk more about an FHA Streamline Refinance? Call me at 401-490-7147 or email me at firstname.lastname@example.org