FHA Streamline Guidelines Florida
FHA Streamline Guidelines Florida
FHA streamline guidelines Florida
To qualify for a FHA streamline refinance in Florida FHA
requires you to complete a mortgage application to begin the process.
If you currently have an FHA mortgage and want to refinance FHA allows
you to refinance:
- No minimum credit score to qualify
- No employment verification
- No credit report required
- No income verification
- No appraisal required
- No asset verification
- No cost qualify
New FHA guidelines changes
requires that the new mortgage balance remain the same as your current
mortgage balance. Your new loan amount must be the same as your current
loan amount after you refinance it cannot increase. If you owe $100,000
now after an FHA streamline you will still owe $100,000 after you
refinance. Only your interest rate, monthly payments or term changes.
What you owe your current balance will remain the same.
A borrower is eligible for a FHA streamline refinance without credit qualifying if they has owned the property for at least six months. Individuals may be deleted from the title on a streamline refinance if the remaining owner-occupant can demonstrate that he/she has made the mortgage payments during this time.
To qualify for a streamline refinance there must be a net tangible benefit to the homeowner. Net tangible benefit is defined as a 5% reduction to the principal and interest (P&I) of the mortgage payment plus the annual mortgage insurance premium (MIP) or refinancing from an Adjustable Rate Mortgage (ARM) to a fixed rate mortgage.
- the borrower must have made at least six payments on the FHA-insured
- mortgage being refinanced at least six full months must have passed since the first payment due date of the refinanced mortgage
- at least 210 days must have passed from the closing date of the mortgage being refinanced
Call us 888.958.4228
We look forward to working with you.
We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.
Call us 888.958.5382
Call us 888-958-5382
www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.
We look forward to working with you.
Recent Articles
-
Mortgage Rates August 5
Aug 05, 24 04:10 PM
Mortgage Rates August 5, 2024. Rates have gone down recently. Lower rates equals lower mortgage payment. -
Mortgage Rates August 5 2024
Aug 05, 24 03:55 PM
Mortgage Rates August 5 2024 -
Today's FHA Rates 5.00% & 5.875% Conventional Minimum 700 Credit Score
Aug 05, 24 03:48 PM
Today’s historically low 30 year fixed interest rates make now the perfect time to purchase a new home or refinance To be approved at the lowest mortgage rates, you do not need to have the highest cre…
Call Now, Our Staff is Available!
800.516.9166
FHA Streamline Refinance Requirements
To qualify for a streamline refinance your current mortgage must be a FHA mortgage
No Minimum Credit Score Required
There are no minimum credit scores required to qualify for a streamline refinance
No credit score required
No Appraisal Required
There is no appraisal required to qualify for a streamline refinance
No appraisal required
No employment verification
You don't even have to have a job they don't verify it
No employment required
No credit report required
You must have 12 months on time mortgage payments
Apply Now
Call Us 888-958-5382