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Answers (2)
Mr Melin,
We all know that you know better than to dig up old posts just so you can SPAM the boards. We know you need to stop in every 6 months or so to get your Zillow badge, but you can do that on current posts and without the blatant SPAM.
Nice to see you again Chad.
We all know that you know better than to dig up old posts just so you can SPAM the boards. We know you need to stop in every 6 months or so to get your Zillow badge, but you can do that on current posts and without the blatant SPAM.
Nice to see you again Chad.
- Chad Melin, "Chad Melin"
- Contributions:113
The FHA streamline is an easy process. Lenders can do them with or without appraisals. If you decided to do the Streamline without an appraisal, you cannot exceed your original loan balance. We do perform a credit check to ensure you have been on time with your mortgage payments.
Some lenders will charge Origination/Discount and other lender fees that you may have to pay out of pocket. We waive our lender fees so we can make this work without verifying your job, income, or home value. The only fees that are involved are the title fees for title insurance and setting up your new escrow account. These are financed into your new loan unless you'd rather pay them out of pocket. You will recieve the a refund for majority of your current upfront mortgage insurance premium towards the new loan and will recieve any money in your current escrow account back within 30 days of closing on the new loan.
The paperwork is almost identical to the paperwork you signed to get into your current FHA loan, and can be signed at closing. Only a mortgage statement, mortgage note from your loan paperwork, and homeowner's insurance page are needed to get the process started.
Let me know if you have any other questions!
Thanks,
Chad
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How does the FHA "Streamline" process work for refinancing?
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