Your Refinancing Options

If you are a homeowner who originally financed your home with an FHA mortgage, you have probably realized that interest rates have dropped significantly over the last few years. Lower rates means saved money in the long run; money which can be used to pay off bills, take a vacation, pay for a car, or just to save. Since you have an FHA mortgage, you are eligible for an FHA streamline refinance, which can adjust your mortgage and help you save money with a new, lower FHA interest rate.

Traditional Refinancing

You can refinance your home with a traditional refinance if you like, but the process typically takes a few months and can require loads of paperwork. If you are only refinancing because you know that interest rates are low but are not in any particular rush or have no immediate need to save money, this is probably the best option for you because you will have more time to acquire all the necessary documents and can receive an extremely low interest rate. This kind of refinance requires a home appraisal and can, in some cases, take a few months to complete. We can get you started for free! Call 800-960-2850.

Refinancing with Cash-out

If you are doing a traditional refinance, you also have the option to do a cash-out refinance. This kind of refinance is beneficial if your property has increased in value since the time you purchased it. With a cash-out refinance, you can take out a second mortgage on your property for more money that you currently owe, and have the extra money available to spend on whatever you want. If your property value has declined, an FHA Streamline Refinance is probably a better option for you.

If you are wishing to save money on your home loan and want to put the saved money to immediate use, an FHA Streamline is more likely the kind of loan you are looking for. With streamline rates at an all-time low, you will be able to start using the saved money almost immediately. This process also reduces the amount of paperwork needed for application, and moves the whole refinance process forward much more quickly. In some cases, streamline refinances can be approved in under 30 days.

Call 800-960-2850 or Click the Get Quote Button to Start for Free.