The two main features of this unique refinancing program are:
Other requirements for an FHA Streamline Refinance include the following:
Again, only those who are FHA-insured homeowners and who meet the other requirements outlined above are qualified for an FHA Streamline Refinance. Given that verification of income is not required, an FHA Streamline Refinance may be of particular benefit to those with lower incomes; however, the homeowner obviously must be able to pay the refinancing costs and make the monthly payments.
Contact your Loan Officer today to see if an FHA Streamline Refinance may be right for you. We take pride in delivering value and savings to homeowners across the United States. It would be a pleasure to help.
Visit the “Streamline Your FHA Mortgage” article at the website of the U.S. Department of Housing and Urban Development (HUD).
Visit the Federal Reserve Board’s online publication, A Consumer’s Guide to Mortgage Refinancings, at http://www.federalreserve.gov/pubs/refinancings/default.htm.
1If you currently have a non-FHA loan, you may consider refinancing with an FHA refinance loan, but this will not be an FHA Streamline Refinance. You’ll need to apply with the usual employment verification, credit check, debt ratio requirements, etc. Academy can help you determine if this may be a beneficial option for you.