Paul Dunn (520) 225-0380

The FHA Streamline Refinance - Low Costs and Low Rates

FHA has permitted streamlined refinances hom HUD mortgages since the early 1980's.  The term "Streamline" refers to the amount of documentation and underwriting needs to be performed by the lender. 

So if you already have an FHA Mortgage Loan, then an FHA Streamline Refinance is a terrific way to lower your interest rate and monthly mortgage payments.  The FHA Streamline Refinance is quick...and low cost!

Here are some basics on the FHA Streamline Refinance Loan:

1. Your current mortgage must be an FHA insured mortgage loan.  If you aren't sure if it is or not, you can contact us as we can help you determine if it is.
2. Your mortgage must be current...not behind.
3. The FHA Streamline Refinance MUST lower your monthly payments.

The FHA Streamline Refinance is offered with many options including:

1. "No-Cost" refinances.  By charging a slightly higher interest rate on the new loan all or a portion of your closing costs can be paid by us. 
2. "Lowest-Rate" refinances.  By paying your closing costs and rolling them into the loan, you have the lowest rate option.
3. "No-Appraisal" refinances.  To qualify, the new loan amount cannot exceed the original loan amount.
4. "Investment-Property" refinances.  Can only be done WITHOUT an appraisal.

The FHA Streamline Refinance provides the convenience of:

• Very little paperwork
• Appraisal usually not required
• Low or NO closing costs (very little if any out of pocket expenses)
• Very low mortgage rates

To learn more about the FHA Streamline Refinance and How Much You Can Save; contact Paul Dunn through this website or call (520) 225-0380