You love the government-backed security and simplified qualification process that came along with your FHA loan, right? If it’s time to lower your rate and payment, but you’re still looking for the features of your current loan, an FHA Streamline Refinance from Quicken Loans is the perfect solution!
Sometimes known as an FHA IRRRL (Interest Rate Reduction Refinance Loan), the government-endorsed program makes financing much easier for borrowers. Ready for the good news? You can lower your payment without the extensive qualification process! Can’t beat that, right? Here are a few great features of the FHA Streamline Refinance:
- Offered as a 5-year ARM (adjustable rate mortgage), 15-year, or 30-year fixed loan
- No appraisal required
- Minimal credit requirements
The FHA knows a thing or two about helping Americans with their home loans (hint, hint: so do we!), considering the first stages of government-backed loans arrived on the scene nearly 100 years ago! The FHA loans and refinances have helped millions of homeowners across the country!
Is an FHA Streamline Mortgage Right for You?
Homeowners currently in an FHA loan are the only candidates for a Streamline Refinance. Even if your current FHA rate is higher than the standing average, and you owe more on your home than it’s worth, you’re eligible to take advantage of today’s record low mortgage rates!
Does This Home Loan Option Work With Your Financial Goals?
If lowering your current payment is at the top of your list of home ownership goals, the FHA Streamline Refinance is just the ticket! Even if you owe more than your home is worth, our Home Loan Experts can help you put a check mark next to “Savings!”