FHA Streamline in California | DanInContraCosta

FHA Streamline in California

FHA Streamline in California is a very quick, easy, low-to-no-cost refinance program for homeowners with good payment history on their existing FHA loans. An FHA Streamline in California for many homeowners who recieved their FHA loans anytime before December 2008 will refinance their interest rates from 6-7% to a 3-4%, possibly saving tens if not hundreds of thousands of dollars on their principle and interest payments over the life of the loan. I'm pretty excited about this program since my own company specializes in FHA and the FHA Streamline in California that we do offer some of the most value in our industry. In order to close an FHA Streamline in California, this is what you need:

• The home loan to be refinanced must already be FHA insured.
  
  
• The mortgage to be refinanced should be on time with no more than two 30-day lates (not delinquent).
  
  
• The refinance MUST lower monthly principal and interest payments.
  
  
• No cash may be taken out on Fha Streamline in California

The FHA Streamline in California may be the cheapest and fastest refinance you'll ever get. If you don't at least look at your options, you are leaving money on the table! Here are some additional "spiffs":

1. No Appraisals for the FHA Streamline in California!
   
   
2. No Chasing down W2s, it's all streamlined!
   
   
3. No Qualifying Debt ratios
   
   
4. No Income verification
   
   
5. 10, 15, 20, 25, 30 year loan repayment options, fixed and adjustable
   
   
6. No Credit Underwriting
   
   
7. No FHA Streamline in California can be legally done unless it lowers the payment. This protects the consumer as with all FHA loans.

Why was the FHA Streamline in California created?

1. The borrower will be able to refi an existing FHA under current underwriting criteria without the cost for appraisal
   
   
   
2. Upside-down homeowners would get the new lower rate loans (part of the stimulus program).
   
   
   
3. Since the FHA is guaranteeing the loan already, this program strengthens the borrower's finances and allow them to be more likely to continue making their payments on time.
   
4. 
   
   
5. Why is it only for those with good payment? The savings from a streamline ($100-$300 dollars a month) would be of little help to someone who is about to foreclose.

Getting an FHA Streamline and want to make sure you're getting the best rate?
Want to see how much you can save every month?
Questions about an FHA Streamline in California?

Contact Dan Pham

or call 925-771-8900 extension 160