Despite the benefits of an FHA mortgage, you may one day need to refinance your mortgage in order to take advantage of lower interest rates and monthly payments. In order to do that, you’ll need to consider making use of the FHA Streamline Mortgage Refinance Program. The FHA Streamline Mortgage Program allows you to refinance your FHA mortgage in order to get lower rates and payments. Even better, the refinancing process for the FHA Streamline Mortgage allows you to do so with less documentation than you needed for the first time you applied
- The FHA Streamline Mortgage allows you to change to new (and possibly lower) rates
- The FHA Streamline Mortgage can also change the term of your FHA mortgage
- You can reduce your monthly payments by refinancing into an FHA Streamline Mortgage
- Additionally, the FHA Streamline Mortgage requires little underwriting since you’ve been through the process before.
If you feel like you could benefit by refinancing into an FHA Streamline Mortgage, then call one of our experienced mortgage bankers here at Neighborhood Loans. They’ll help you learn all of the essential information that can help guide you through the process and determine if you’ll benefit from it.