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I am looking for a 5/1 ARM FHA 203k Streamline mortgage lender.

I have been offered a 5/1 ARM FHA Streamline mortgage by one lender.In the process of shopping around I have not been able to find another lender that can off this type of mortgage. I am starting to wonder if it even exists!
Does anybody know of a lender that offers them?
I am located in Knoxville,TN
  • October 04 2013 - Knoxville
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Answers (6)

Hello

I am a .[self promotion deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]

William Allen
Mortgage Banker
Proficio Mortgage Ventures, LLC
a wholly owned subsidiary of Proficio Bank
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  • October 10 2013
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Profile picture for StongateMortgage
Would you consider a conventional rehabilitation loan?  Please let me know via my profile on this site.
  • October 08 2013
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Profile picture for Brookstone Mortgage
"I love the lenders that quote people. Thanks for the clarification."
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You're welcome.
  • October 04 2013
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I love the lenders that quote people. Thanks for the clarification.
  • October 04 2013
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Profile picture for Brookstone Mortgage
"FHA streamline to an ARM is not an option I believe."
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If you read the post, you will see they are talking about a 203K streamline, which is very different than what you are talking about.

User, 
Yes a 5/1 is available for a 203K streamline, I don't lend in Tennessee but I'd suggest you check with Wells Fargo Home Mortgage to see if they can do it for you. Wells seems to be the best source for 203k's. If Wells doesn't offer the 5/1, then I know Paramount Residential Mortgage Group, (PRMG) does on loan amounts up to the FHA limits in your area; just google them. 

Disclaimer; I am not employed by or affiliated with either Wells Fargo or PRMG.
  • October 04 2013
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FHA streamline to an ARM is not an option I believe. I do a lot through the US and it's all fixed. Sometimes changing terms is not an option because there has to be a 5% payment benefit doing a streamline. FHA does not view dropping the terms as a benefit.
  • October 04 2013
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