Archive for Q&A
Jun
27
I have an ARM and lost my job 1-year ago. What is the best way to approach refinancing?
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Should I try to get a streamline refi with my current lender and avoid disclosure of my income loss? Or should I approach the lender as as a hardship case looking to avoid foreclosure. I have not missed any payments.
Jun
27
What is the difference between FHA streamline and non-streamline refinance?
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If I have a conforming loan right now. Is it possible for me to apply with an FHA loan? what is the difference between streamline and non-streamline refinace? Thanks
Jun
27
Can I do a streamline refinance in this case and how will this work?
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Hello all, so to make the situation short and sweet… My fiance and his sister are on the Mtg for a house, all of 3 of us are on the title. We want to get his sister off the Mtg and put myself on it (don’t worry about the finances.. that is all worked out). End result we want it to be just us on the Mtg and the Title. Will a Streamline Refinance work for us ? … and what will need to be done?
Best Regards!
Jun
25
I got an offer for a VA Streamline Refi. Is it a scam?
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This refinance option includes a 1% interest rate reduction, skip 2 payments, and a refund of our escrow. Is it too good to be true?
Jun
25
Should I refinance? FHA Streamline from 6% to 5%?
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I bought a house about 7 months ago.
I paid down 3% on an FHA loan at 6% for about $184K
Now the same mortgage broker is offering me an FHA streamline down to 5%.
He says there are no fees or appraisals, except for the Mortgage insurance fee which is about 2400 (they’re rolling that into the loan) and I make one payment to the title company (about $1370). My mortgage payments will be about $95 lower. Seems pretty good to me, I just hate to change banks because I really liked the bank I was with so far (I suppose my loan could get sold anyway). The new loan would be somewhere around 187K.
Does that mean that the 3% I put down the first time won’t count for anything anymore?
Jun
22
What is the average finance fee of an FHA streamline refinance?
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this local company offers me to refinance at 5.25% fixed over 30 but asks close to 5000$ in fees. is that reasonable ? should i shop around ?
Jun
21
FHA 203K Streamline question?
Posted by: | CommentsI have learned about this loan but have a question. We have found a home thats nice but needs a little work update 2 small baths,1 kitchen and a little outside work. We’ve estimated it would take 30k to 35k, now most of this work my husband knows how to do since he’s a Journeyman Electrician, but I am wondering would we still have to hire a General contractor to do the work that we could do for free?
Jun
17
Mortgage Question for you?
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I’m looking to get a streamlined refinance (no cash, just lower monthly payment) and the requirement is “no late payments”. I have paid my mortgage past the grace period a few times but never past the 30 days. Is this consitered late? Would this prevent us from being approved?
Jun
17
which is currently at 8.5 %. I would like to get one fixed mortgage at a lower rate and payment. Can someone please explain to me what a streamline refinance is? I do not want to get any cash out and have always been current with my payments for 2 1/2 years (Never late)
Jun
17
I’m hoping to get some advice about a very simple closing?
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I am doing a FHA Streamline refinance. There is no down payment. No appraisals and no credit checks. A closing agent is coming to my house today to get the paper work signed. Is there anything that I should look out for? I’m hoping that there’s not as many papers as there was when we first took out our home loan.