FHA Streamline Refinance Program

If you have an FHA mortgage, the FHA Streamline Refinance program is the fastest and easiest way to refinance your loan. Unlike most refinance loans, the Streamline program may not require verification of income or assets, and an appraisal is not even required in most cases. The Streamline program also allows for an unlimited loan-to-value ratio, so you can refinance into a lower rate even if you are very underwater on your loan.

With the exception of credit score, which will need to be verified, the FHA Streamline program in Harbor Beach, FL will use the information from your original FHA application. We then repackage your application to give you a new mortgage with a lower interest rate.

No Cash Out Allowed on FHA Streamline Refinance in Harbor Beach, FL

Do you want to refinance to access equity in your home? This will increase mortgage debt, and it is not allowed under a Streamline Refinance. HUD prohibits homeowners from withdrawing equity under the program.

FHA Streamline Closing Costs in Harbor Beach, FL

You will need to pay closing costs when you refinance through the FHA Streamline program. Closing costs may be thousands of dollars, and you will also need to pay certain fees to the mortgage broker and/or us. You may be able to roll these costs into your new loan, but only if you get an appraisal on your home and the new loan will not exceed the original balance by more than 1.5 percent. If you do not get a home appraisal, you will need to pay closing costs out of pocket. We may be willing to pay the closing costs for you if you accept a higher interest rate.