FHA Streamline Refinance Rates
FHA Rates fluctuate and are normally the most sought after information from borrowers when they go about refinancing their home. The rate that you get when refinancing will determine what your closing costs are and what your new payment will be. Luckily, with Village Capital & Investment LLC, all closing costs are covered and there is absolutely no out of pocket cost to you. This is what makes Village Capital & Investment LLC one of the best mortgage lenders in the industry and keeps customers so satisfied.
The Allure of the FHA Refinance Program
Unlike a traditional refinance, the FHA Streamline Refinance allows borrowers to “streamline” their refinance by not requiring them to get an appraisal on their home or verifying their income. This means that there is an unlimited loan-to-value limit; if you are underwater on your home it won’t matter because there is no appraisal required. It is even more enticing because most lenders, such as Village Capital & Investment LLC, don’t require a credit check and are mainly concerned about being current on your payments. Because of this, more and more people are running to the FHA Streamline Program for a solution to their financial problems or even to just free up some money.
Requirements in the new FHA Refinance Rates
The Federal Housing Administration does not allow a refinance to take place on a home unless it is beneficial to the borrower. They have decreed that there be a net reduction of at least 5% or more on the monthly payment. That includes mortgage insurance, principal and interest. This doesn’t mean that the interest rate is lowered by 5%, but a net reduction on the monthly payment. Additionally, FHA Streamlines use the same paperwork from the original home loan. This allows a borrower to refinance the home before insurance rates or private mortgage insurance rise.
Other Features To Take Note Of
Another particularly enticing feature about the FHA Streamline Refinance program through Village Capital & Investment LLC besides the low rates it provides is that you are able to make no payment for a month. This is a great way to free up quick cash and pull yourself out of a bind. The good majority of people’s main expense every month is their mortgage payment. Imagine if you were able to lower your monthly payment, lower your savings over the life of the loan by thousands, and free up an entire month’s worth of cash that was going to go towards your mortgage payment! Aside from the current rates, not making a payment for a month is a fantastic addition to the already low mortgage rate you’re getting.
FHA Refinance Rates Change Daily
So what are today’s mortgage rates? How can you find out exactly what you can save by using the FHA Streamline Program? Click on the button below and get a free customized rate quote. Rates fluctuate daily. This means you can’t lock in exactly what your rate would be online without talking to a licensed mortgage loan officer. Because the FHA Streamline refinance rates are changing daily, the only way to find out what rates Village Capital & Investment LLC is offering for that day is to contact us and get a customized mortgage rate quote from our mortgage experts. You will be provided with what rate you can get as well as what your monthly savings would be. Get started by clicking on the button below.
The products or services described in this website do not originate from the Federal Housing Administration (FHA) or any other government agency. Village Capital & Investment LLC is not affiliated with your current lender and any loan information presented was not obtained from your current lender. Estimated payment is for a 30 year fixed rate loan and does not include taxes and insurance. These products may have higher interest rates, more points, or more fees than products requiring documentation. [1] Refinancing may result in higher total finance charges over the life of the loan. Village Capital & Investment LLC NMLS ID: 3317 Arizona Mortgage Banker License No. 0909593.