FHA Refinancing Just Got Easier

FHA Refinancing Just Got Easier

If you are one of the millions of Americans who hold an FHA loan and have not been able to take advantage of these historically low rates by refinancing, there is good news for you!

With the newest changes in the FHA Streamline Refinancing Program, designed to quickly go through underwriting and get to closing in record time, FHA borrowers in all 50 states can now refinance provided they meet the following criteria:

• You must have made at least 6 payments on your current FHA mortgage

• You must NOT have made a late payment on your mortgage going back 12 months

• Your refinance must have a “purpose,” such as to obtain a lower rate or to switch from an ARM to a fixed-rate, etc.

In addition, there is no income, job, or credit verifications needed by the bank, nor is an appraisal required.

For more information on this program, please visit: The Mortgage Reports

Feel like you are just keeping your head above water when it comes to your home? Contact your Loudoun County Real Estate Short Sale Specialists at Ask Gina & Company today and let us unlock the possibilities for you!