Justin Perry's Mortgage Blog

Can you refinance my mortgage?  I have heard that question many times in the past week.   The very first question I ask the homeowner is: Do you currently have an FHA mortgage?

Most people with FHA (Federal Housing Administration) loans don't realize that FHA offers what is called a streamline refinance.   First and foremost you must currently have an FHA loan and you can not be behind on your payments.  When people think of the process of refinancing they usually assume piles of paperwork and fees.  That might be true in most cases, but not with a streamline FHA refi.  

Time.  The biggest thing you save with the FHA streamline program is time.  In fact, you don't even need an appraisal. 

There is also NO: Credit Underwriting, Qualifying Debt Ratios, Credit Check or Income Verification.

Yes you read the above paragraph correct.  This is just one more great reason to get an FHA mortgage.  Because you never know when you might have to consolidate bills, send a child to college, make home improvements or just take advantage of lower interest rates.  If you have an FHA loan and are in good standing you know that if when the time comes you will have no problem refinancing.

For more information on FHA loans or to see if you qualify please give me a call.  You can also go to FHA's homepage to read more.