IMPORTANT information regarding FHA STREAMLINES

If you own a property, have an FHA loan and have NOT refinanced in the past two years… than you may be leaving your hard earned money on the table…Information is powerful !!!!! There is no cost to be qualified. If you currently have an FHA mortgage, you may be eligible for an FHA streamline refinance. Rates are at their lowest... and there are still too many Americans who think that they will not qualify for any type of refinance, hence they continue to pay higher rates than they should! If you've been turned down in the past for a refinance, try again! Rates are at an all-time low, and products are continuously being enhanced to qualify more and more people. An FHA streamline loan can help homeowners lower their monthly mortgage payment and interest rates, typically with lender paid closing costs!! If you are upside down on the value of your house... this product is perfect, as NO appraisal is required and the qualifying requirements are minimal. What is an FHA streamline refinance? • No Appraisal is required • Lender paid closing costs (No out of pocket costs) • This product allows for only the principle balance plus 30 days of interest to be refinanced • Potentially lower monthly mortgage insurance (increases savings) • Underwriting is minimal, as no income documentation is required (Just verification of 2 years of employment) • Processing time within 30 days (www.fha.com) An example of savings could be...$150/month, which turns into $1,800/year, which could become $54,000 over the 30 year term of the loan... why leave all that money on the table and in the banks' pockets? This does not just apply to a mortgage... you should always be mindful of lowering rates and payments on car loans, insurance, cable bill & credit card bills.. Just to name a few. For any questions on an FHA streamline loan please feel free to contact me at: Dorothy@fundsforhomes.com or (860)833-1083