Looking for a fast and easy way to refinance your existing home mortgage into today’s low rates? An FHA Streamline Refinance could be your solution. Before we talk about the many advantages, let’s go over what you need in order to qualify for a FHA Streamline Refinance.
The government website HUD.gov has a list of requirements that you will need to meet in order to qualify for a Minnesota FHA Streamline Refinance.
- The mortgage to be refinanced must already be FHA insured.
- The mortgage to be refinanced should be current (not delinquent).
- The refinance results in a lowering of the borrower’s monthly principal and interest payments, or, under certain circumstances, the conversion of an adjustable rate mortgage (ARM) to a fixed-rate mortgage.
- No cash may be taken out on mortgages refinanced using the streamline refinance process.
If you do qualify you will be able to take advantage of:
- No closing costs
- No appraisal
- No income verification
- Reduced mortgage insurance fees (if loan was insured prior to May 31st, 2009)
At Guardian Financial I can help home owners with lower scores than other lenders are able to. Often we can get Minnesota FHA Streamline Refinance loans with scores as low as 580. Also it is important to know that we can get your loan closed between 11 & 25 days.
When you apply for a FHA Streamline Refinance, I will provide you with a full breakdown of how you can benefit the most out of your new low interest rate either by making your very same payment you are currently on your mortgage, also paying your mortgage off much faster and ways to get your mortgage insurance to drop off sooner than your current mortgage saving you thousands of dollars.
If you want more information about FHA Streamline Refinance, please fill out the contact form to the right. As a licensed mortgage broker in the state of Minnesota, I will be able to get your the best mortgage rate with the lowest closing costs possible. If you would like, you can also call my work number at (763)-400-7537 or my mobile at (952)-807-8532. I look forward to working with you and helping you with your financial future.