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FHA streamline refinance of a no longer approved property

I'm currently in a FHA loan originated in March of 2009.  I'm looking to refinance simply for a better rate (currently at 5.5).  My current lender will not do anything for me because the HOA (this is for a condo) is no longer FHA approved.  Their only solution was to work with the HOA to get them approved.  I've seen some evidence online that I should be able to streamline refinance regardless of FHA approval status... I've already talked with another lender and they said they can only refinance their existing FHA mortgage customers. Any insight?
  • October 03 2012 - Hanover Park
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Answers (2)

Best Answer

You posted from IL, email your question to John at:

john@integrityillinois.com
  • October 03 2012
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The condo does not have to be approved for a streamline, you will probably run into lender overlays though. Call a few more lenders.
  • October 03 2012
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