Tag Archive : fha refinance

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Essential Rules of FHA Streamlines

       FHA Loans / General

FHA Mortgages offered through HUD are Government insured against default and therefore, because of the government cushion given to Lenders who make FHA loans, very attractive interest rates are available. Furthermore, just like for Veterans (VA Loans), FHA carries a special feature that’s not available for Borrowers who have loans backed by Fannie Mae or Freddie Mac (Conventional). This special…… Read More »

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I no longer live in the home I got an FHA loan for; can I Streamline?

       FHA Loans

FHA Streamlines (refinances) are a quick and easy way to drop your payment without an appraisal and without qualifying all over again. However the HUD handbook is very clear on trying to Streamline a home the Borrower no longer occupies: HUD’s 4155.1 Section 4, Types of Permissible Streamline Refinances, Paragraph 6.C.4.kk. states the following: “Investment Properties and Secondary Residences are…… Read More »