FHA Streamline Refinancing Services
Every proud parent feels mixed emotions when their child is accepted to the college of their dreams. You are happy for your offspring’s accomplishments while trying to figure out how you are going to pay the added expenses. Perhaps your savings account and income are starting to feel a bit thin, and you have not yet written the first tuition check.
If you are a holder of a Federal Housing Authority (FHA) guaranteed loan, then the FHA has good news for you. You may qualify for the FHA Streamline Refinance loan, and Georgetown Mortgage can help you get through the process just in time for junior’s first day at college.
FHA Streamline Refinance Loan
Refinancing can be tricky in an upside-down or struggling economy, where home values have dropped. Even if you are a homeowner still making mortgage payments, your refinance options may be limited. If you hold an FHA mortgage, this information is for you.
The FHA Streamline loan is designed for homeowners with current FHA mortgages. It features reduced paperwork, simple eligibility requirements, and features that make FHA Streamline loans very attractive for FHA borrowers.
There is income verification. As holder of an FHA mortgage, the FHA considers you qualified as a good credit risk.
When the FHA Streamline Refinance Makes Sense to You
The FHA Streamline Refinance loan is perfect for cash-strapped homeowners. You do not receive a lump sum of cash at closing. Instead, your monthly mortgage payments are lowered, permanently. Now, you have a bigger take-home paycheck and enough funds each month to pay a growing pile of bills, such as those additional college-related fees.
Here are a few typical guidelines borrowers must meet to qualify for an FHA Streamline Refinance Loan:
- Your original home loan is an FHA loan in good standing.
- You must own the original property for at least six months before you can qualify to refinance your mortgage.
Georgetown Mortgage can determine if the FHA Streamline Refinance loan matches you unique situation. Unlike many loan companies where your query is passed around a call center, Georgetown Mortgage lending professionals invest time in you and your story.
Georgetown Mortgage hears your concerns.
At Georgetown Mortgage, you get one mortgage originator, one lender relationship, because we do not believe you should have to re-explain your situation with every conversation.
The Georgetown Mortgage team believes in the Golden Rule: we treat you how we want to be treated—fairly, honestly, equally, and with full transparency. We hire only those loan officers and team members who demonstrate a genuine commitment to providing top customer care for every applicant and borrower, as if each were the only Georgetown Mortgage customer.
You can expect more from your Georgetown Mortgage borrowing experience. Imagine the peace of mind you’ll feel with our Georgetown Mortgage lending professionals on your side.