Benefits of Refinancing a FHA Streamline Loan
Benefits of Refinancing a FHA Streamline Loan
Benefits of Refinancing a FHA Streamline Loan
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Benefits of Refinancing a FHA Streamline Loan 2017-09-27T01:58:01+00:00

FHA Streamline loans allow you to reduce the interest rate on your current home loan more quickly and with far less paperwork than conventional mortgage refinances require.

Refinancing your existing FHA-insured loan allows you to take advantage of today’s low interest rates and reduce your monthly expenses.

Reducing your interest rate one percentage point on a $200,000 mortgage loan would save you over $1400 a year while reducing your interest rate by two percentage points would save you over $2900 a year.

FHA Streamline loans require minimal paperwork. A FHA Streamline refinance uses your original FHA home loan paperwork so there’s no income verification, employment verification or underwriting fees and a home re-appraisal is only required under certain circumstances. This allows borrowers who owe more on their homes than they are worth to refinance.

Borrowers can choose to pay their “closing cost” fees in cash to obtain the lowest possible interest rates or take advantage of a “no cost” streamline refinance at a higher rate of interest.

You also have the option of increasing or decreasing the term of your existing loan. Reducing the term of your loan builds equity faster, while increasing the term of your loan makes your payments more affordable.

Related Articles:

Learn about FHA Streamline Loans

Check to see if you are eligible for a FHA Streamline Loan

FHA Streamline Loan requirements

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No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.
Benefits of Refinancing a FHA Streamline Loan 2017-09-27T01:58:01+00:00

FHA Streamline loans allow you to reduce the interest rate on your current home loan more quickly and with far less paperwork than conventional mortgage refinances require.

Refinancing your existing FHA-insured loan allows you to take advantage of today’s low interest rates and reduce your monthly expenses.

Reducing your interest rate one percentage point on a $200,000 mortgage loan would save you over $1400 a year while reducing your interest rate by two percentage points would save you over $2900 a year.

FHA Streamline loans require minimal paperwork. A FHA Streamline refinance uses your original FHA home loan paperwork so there’s no income verification, employment verification or underwriting fees and a home re-appraisal is only required under certain circumstances. This allows borrowers who owe more on their homes than they are worth to refinance.

Borrowers can choose to pay their “closing cost” fees in cash to obtain the lowest possible interest rates or take advantage of a “no cost” streamline refinance at a higher rate of interest.

You also have the option of increasing or decreasing the term of your existing loan. Reducing the term of your loan builds equity faster, while increasing the term of your loan makes your payments more affordable.

Related Articles:

Learn about FHA Streamline Loans

Check to see if you are eligible for a FHA Streamline Loan

FHA Streamline Loan requirements

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Benefits of Refinancing a FHA Streamline Loan 2017-09-27T01:58:01+00:00

FHA Streamline loans allow you to reduce the interest rate on your current home loan more quickly and with far less paperwork than conventional mortgage refinances require.

Refinancing your existing FHA-insured loan allows you to take advantage of today’s low interest rates and reduce your monthly expenses.

Reducing your interest rate one percentage point on a $200,000 mortgage loan would save you over $1400 a year while reducing your interest rate by two percentage points would save you over $2900 a year.

FHA Streamline loans require minimal paperwork. A FHA Streamline refinance uses your original FHA home loan paperwork so there’s no income verification, employment verification or underwriting fees and a home re-appraisal is only required under certain circumstances. This allows borrowers who owe more on their homes than they are worth to refinance.

Borrowers can choose to pay their “closing cost” fees in cash to obtain the lowest possible interest rates or take advantage of a “no cost” streamline refinance at a higher rate of interest.

You also have the option of increasing or decreasing the term of your existing loan. Reducing the term of your loan builds equity faster, while increasing the term of your loan makes your payments more affordable.

Related Articles:

Learn about FHA Streamline Loans

Check to see if you are eligible for a FHA Streamline Loan

FHA Streamline Loan requirements

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.