If you recently bought real estate or own a home and you use an FHA mortgage in order to purchase in the year 2014 he would do yourself a favor by looking into the FHA streamline refinance.

MORTGAGE INSURANCE LOWERED ON FHA

If you recently bought a home using HUDs FHA loan than you may be able to lower or remove your mortgage insurance payments.

As of early 2015 mortgage insurance premiums or lowered significantly by FHA and at the Department of Housing and Urban Development or HUD.

FHA streamline refinance is on extremely easy loan process and they are simple to qualify for.

Main criteria as you must currently already have an FHA loan on your property

Let’s not be delinquent and I’m have any late payments on your current FHA loan

Streamline refinance must result in lower your monthly mortgage principal and interest payments by 5% or more.

In almost every case the FHA streamline refinance process does not require a full property appraisal and they do not required to document income.

If this resonates with you and you recently purchased property using an FHA mortgage you owe it to yourself to see if you can put yourself in a better financial position with your mortgage payments.

Furthermore due to the significant appreciation in the real estate values over the last year and a half or so you also may be able to completely get yourself out of that FHA loan altogether drop your mortgage insurance altogether and utilize conventional financing to save even more on your monthly payments.

There is no way to know for sure unless you’re at and less you at least divan and talk with somebody so get with the person that did your last load or give us a call today.