Recently it was announced that changes were coming to the FHA streamline program -- and the changes that were announced won't make it any easier to get an FHA streamline done. According to the official announcement from HUD, the FHA streamline qualifying rules will change effective November 17, 2009. Prior to the announcement, the FHA streamline refinance was popular with FHA borrowers … [Read more...]
FHA Streamline Refinance: No Longer Easy?
The FHA Streamline refinance was originally created by HUD to "make it easy" for people who currently had FHA loans to be able to take advantage of lower interest rates when they were available without having to completely re-qualify for a new loan. Recently, many lenders now require credit scores of 620 if you want to do an FHA streamline refinance -- many, but not all. Here is an example … [Read more...]
Arizona FHA Refinance With No Appraisal Required
Is it possible to do an Arizona FHA refinance with no appraisal? Many people in Arizona want to take advantage of low interest rates, but currently owe more than their house is worth because property values have went down over the last couple of years. If you are currently in an FHA or VA loan, it may be possible for you to do an Arizona FHA refinance on your home - with no appraisal … [Read more...]