FHA Streamline – Refinance Your FHA Loan with No Appraisal
Overview
An FHA Streamline allows you to take advantage of lower mortgage rates by refinancing your current FHA loan into a lower fixed rate on a new FHA loan and you could even qualify for no appraisal and easier qualification.
The Canto Team offers FHA Streamline refinance, the easiest way to refinance your FHA loan. With FHA Streamline, you could refinance an FHA loan with no appraisal and no income/assets verification.
Not sure if an FHA Streamline is right for you? Find out if you qualify for an FHA Streamline refinance in just a few easy steps!
Refinancing an FHA Loan with FHA Streamline
An FHA Streamline offers an excellent opportunity to anyone currently in an FHA loan. All FHA loans qualify for the program, including 30- and 15-year fixed rate FHA loans and all ARM FHA loans. FHA Streamline will allow you to take advantage of lower mortgage rates by refinancing your current FHA loan into a lower fixed rate on a new FHA loan.
Lower Your Mortgage Rate on Your FHA Loan with FHA Streamline
The Canto Team makes it simple. If today’s mortgage rates are lower than the rate that you currently have, or you have an FHA ARM that may adjust upward, you can refinance your FHA loan up to the original amount of your current loan at today’s lower rates. And with FHA Streamline, you could qualify for an FHA refinance with no appraisal and no income verification. Some restrictions apply. It’s easy, quick and designed to get you a lower payment on your FHA loan.
What the FHA is saying about FHA Streamline
Here is some information from HUD’s website about FHA Streamline:
“The ‘streamline’ refers only to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction. The basic requirements of a streamline refinance are:
- The mortgage to be refinanced must already be FHA insured.
- The mortgage to be refinanced should be current (not delinquent).
- The refinance is to result in a lowering of the borrower’s monthly principal and interest payments.
- No cash may be taken out on mortgages refinanced using the streamline refinance process.”
Get an FHA Streamline and Get a Lower Mortgage Rate Today
Let’s review the benefits of an FHA Streamline. Let’s take into consideration a 30-year fixed rate mortgage of $250,000. Your monthly mortgage payment on this loan at 7% is approximately $1,663. If you were to lower the interest rate to 5%, your monthly payment would be approximately $1,342.
That’s a savings of:
- $321 Monthly.
- $3,852 Annually
- $38,520 in 10 years
- $115,560 over the life of the loan
Those numbers are catching the attention of homeowners across the country! Do I have your attention yet?
FHA Streamline Could Put Money Back in Your Pocket
It’s simple to see why the popularity of an FHA Streamline is so popular. It’s a program that every homeowner with an FHA loan should look into. If you have an FHA loan, a Streamline can lower your rate and payment today while still giving you the security of the FHA program. Get in touch with us at (888) 724-7402 and we’ll find out if you qualify for a quick and easy refinance to a lower rate and payment – with no appraisal required. It’s the fastest, easiest way to lower your payment on your FHA loan today.
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With 11 years in the lending industry, Ted is proficient in structuring the client’s loan to ensure that the client obtains the best financing. He has become a recognized leader in real estate education and hosts real estate seminars for his clients and the business communities in the Southwest. His attention to the details and in-depth knowledge of the loan process ensures that you are getting the best service possible.
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