Winter Haven, Florida homeowners face many reasons to refinance their mortgage loan. Bills never stop coming in, and high mortgage payments often push otherwise solid borrowers into very difficult situations. Are you in this predicament? Do you need a way to lower your mortgage payment? If so, then take it! It’ll do you and your family a load of good.
Allow Me to Introduce You to the FHA Streamline Refinance
If you have an FHA mortgage, and you’re in need of lowering your payments, then you really need to consider an FHA streamline refinance. FHA streamline refinancing will allow you to reduce the interest rate on your current home loan, and it can be done quickly. The best part… it doesn’t require you to get another appraisal!
Opting for this kind of refinance method will spare you with the tons of paperwork needed by your lender”speeding up the process, which saves you time and money.
How do you qualify for an FHA Streamlined Refinancing?
Here’s what you need to know:
- Your mortgage must be already insured by the FHA
- You must have a current mortgage and 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
You should know that lenders offer different types of FHA streamline refinancing.