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FHA Streamline Refinance Program

FHA Streamline Refinance Program

Looking to refinance?

You are definitely not alone and you have come to the right place to find more information on how to get started. Many people are eager to get the process started, and the best way to do that is with the FHA Streamline Refinance Program.

The current real estate market is unusual, with home appraisals rising at an unprecedented rate. Across the globe many people are floundering financially and presently owe more money on their homes than they are actually worth. With low interest rates, it may be smart for you to refinance if you have an FHA loan.

If you have an FHA loan and currently owe more than your house is worth, the FHA streamline program will help you take advantage of lower interest rates without having to start from scratch with a new loan.

No need to re-qualify for anything, simply pick right back up where you left off. It is also important to note that there are absolutely no income/asset documentation requirements for this refinance program.

To apply and qualify for the FHA streamline refinance program, you must meet the following criteria:

  • you must currently live in the home
  • you must have no more than two 30 day late payments on your mortgage in the last 12 months
  • the program must make financial sense, resulting in a lower monthly payment

No Appraisal Required for an Arizona FHA Refinance

Wondering if you can get started on an Arizona FHA refinance with no appraisal? To answer that question, if you currently have an FHA loan and also participate in the FHA streamline program, you certainly can!

This means that if you, the homeowner, currently owe a greater amount of money than what your house is worth, you are still able to take advantage of lower interest rates while refinancing the FHA or VA loan that you currently have.

You can qualify for this as long as the total amount of your new loan does not exceed the total amount of your old loan by more than 1.5%.