FHA Streamline Rate & Term Refinance

This FHA Insured Mortgage loan program is designed for the homeowner who already has an FHA loan to refinance fast and easy.  There is no cash out allowed.  Streamline refinances are designed to lower the monthly principal and interest payment.  Streamline refinances can be made with or without an appraisal.  There is no  income, employment, asset or liability verification of the borrowers.  New co-borrowers can be added to loan without any verifications of creditworthiness.

Loan Amount Maximum's 

1)  Without an Appraisal: (Lower of A & B below)

A) Original Loan Amount , minus old upfront mortgage insurance credit + new upfront mortgage insurance, or.......

B)  Existing Loan Amount + closing cost, points, prepaid expenses and Title fees, minus any refund of prior loan upfront mortgage insurance.

2)   With an Appraisal:  (Lower of A & B below)

A)  97.75% of the appraised value, or ..........

B)  Current loan balance + closing cost, points, prepaid expenses and Title fees, minus any refund prior loan upfront mortgage insurance.

 Additional Facts

1)  Current FHA loans for Owner Occupied and investment properties qualify. 

2)  Must have had the FHA loan for 6 months and be current on the mortgage payments. If mortgage is held for over 12 months, no mortgage lates allowed.  

3)  Interest rate and mortgage payment must be lower than currently paying.

4)  Borrowers are not required to provide a paper trail of evidence to verify cash to close the loan.

Any Questions, Call or E Mail

480-390-2123  

MBongiovanni@TheLendingCo.com

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	First Name:* Last Name:* E-Mail:* Phone:* Loan Amount: Loan Purpose: Purchase Refinance Refinance & Cash Out Loan Program: 50 Year Fixed 40 Year Fixed 30 Year Fixed 20 Year Fixed 15 Year Fixed 3/1 ARM 5/1 ARM 7/1 ARM 10/1 ARM Adjustable Interest Only Property Use: Primary Residence Second Home Rental or Investment Property Type: Single Family Condo/Townhouse 2 Units 3 Units 4 Units Other Property Value: Enter Code Shown:* * Required