Introducing the FHA Streamline Refinance Program
The Federal Housing Administration, also known as FHA, has permitted Streamline Refinances on FHA insured mortgages since the early 1980's. The streamline refers to the amount of documentation and underwriting which needs to be completed by the lender. The Streamline Refinance program is a great option for doing a simple and quick refinance. This process is by far less difficult than when you originally qualified for the mortgage on your home.
Allen Mortgage specializes in the FHA Streamline Refinance Program.Contact Us to Refinance Now!
What is FHA?
The Federal Housing Administration, generally known as "FHA", is the largest government insurer of mortgages in the world, insuring over 40 million properties since its inception in 1934. A part of the United States Department of Housing and Urban Development (HUD), FHA provides mortgage insurance on single-family, multifamily, manufactured homes and hospital loans made by FHA-approved lenders throughout the United States.
The FHA Streamline Refinance process usually takes Allen Mortgage about 2 1/2 weeks to complete. We have only done this type of loan for 15 years. We've got this down to a science.
Absolutely! The entire purpose of the Streamline Program is to assist you in lowering your payment so you can better afford your mortgage. That's the bottom line.
With the FHA Streamline Refinance you will not have to pay title fees or closing fees out of pocket at closing. These fees do not get added into your new loan balance. However, these fees may be included in the interest rate chosen. You may choose an interest rate that covers these fees or you may opt to pay these fees and choose a lower interest rate. Please speak with a Loan Officer for specific details.
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