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I refinanced 14 mos ago to a 15 year FHA loan. FHA streamline eligible?

Can I do a FHA streamline and if so, would like rate quotes.  I'm in California, 92562.
Balance is $316k, value is $390k.
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July 17 2012 - Murrieta
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First off I would like to tell you that based on the information you provided I would not recommend a streamline. You have equity which means you can actually refinance into a new 15 yr fixed non FHA loan with "NO MONTHLY MI" why people do not scream this from the top of their lungs still shocks me.

short term mortgages have highly competitive structures for single premium MI that is often lower than the FHA upfront MIP Fee.If you would like to know more specifics please feel free to contact me.
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August 07 2012
I didn't notice the 15 yr comment so MIP on FHA now would not be much higher, but still worth a FHA-Con'v comparison.
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July 17 2012
You could but you would not like the #s, as Monthly Ins. Premium has doubled. As others have said, at 85% or even better at 80% loan to value, a conventional loan would be worth looking into. .
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July 17 2012
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Our credit scores are about 820 each.  We have been paying an extra principal each month; our goal is to have this home paid for in eight years or sooner.
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July 17 2012
you might be able to qualify for a conventional loan. you are close to the 80% LTV requirement
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July 17 2012
Yes, As long as your credit score meets the minimum requirements you should be okay to do an FHA streamline.  I would need more details to get you and accurate quote.  An FHA streamline may not be your best option.
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July 17 2012
 
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