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Who offers FHA Streamline refinance loans for properties in San Rafael?

I have an FHA loan that I took out 4 years ago. Amount owing is $710,000. House currently valued at $975,000.
Missed 6 payments 2 years ago due to unemployment at the height of the recession and nearly went into foreclosure, so my credit score is toast, but I have caught up on my payments and the loan is now current, with 12 consecutive payments having been made.
Which lender can I talk to to get an FHA Streamline refinance, other than Bank of America (my current FHA lender who took over my loan from the original lender), who I now hate with a vengeance after what they put me and my wife through with their 20+ "personal loan officers" and 300 resubmissions of documents to try to get a loan modification that they never intended to give in the first place!
  • November 29 2012 - San Rafael
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Answers (5)

What credit score is "toast"?    While the program does not have any credit score requirement, nearly every lender imposes a minimum score required to meet their guidelines, and this score can be higher on the "Jumbo" version of the program which your loan amount falls into.

Ideally you will be at least in the 620-640 range which will allow you a variety of options.   Below that it will tougher to find a lender.   

The other issue you might face when you say almost foreclosure was a notice of default ever filed or foreclosure verbage added to your credit report?   Again the program from FHA you would be eligible even if you did have a prior default filed however many lenders will decline if that event happened in the last 3 years.

I would be happy to take a look at the options with you if you would like to contact me through my profile.   Credit score and payment history reported are going to be your key factors.

  • November 29 2012
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  • November 29 2012
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Profile picture for AndreaSmolin
You can shop for customized quotes for a streamline refinance on Zillow Mortgage Marketplace
  • November 29 2012
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Profile picture for Brian GFL Capital
your scenario is perfect for a FHA streamline refinance.
the loan amount is under the maximum loan amount allowed for Marin County and your loan was taken out far enough back that you can be grandfathered into the old MIP calculations while taking advantage of the low interest rates.
  • November 29 2012
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My company does FHA streamline refinances at very competitive rates. Contact me if you would like to discuss your options.
  • November 29 2012
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