Maryland FHA Steamline Refinance

On June 8, 2009, in Tips And Advice, by Paul Defngin

Written by: Paul Defngin |

Maryland - 240-447-2376

Maryland FHA streamline refinance is probably the best loan option for homeowners with little to zero equity in their home , and minimal to no credit scores.

In our area, due to the continuing decline in property value, FHA streamline refinance without an appraisal gives you the best option to lower your interest rate and lower your payment as it does not require any equity and in most cases also does not even require a minimum credit score.

Must have to be eligible:

Must have an existing FHA loan
Must be current on mortgage
Must be late no more than 1×30 within the last 12 months
Must not receive more than $500 at closing

Things you don’t need:

Income
Assets
Appraisal

To get started, have the following when you contact your loan officer:

Copy of your mortgage NOTE
Copy of your current mortgage statement

*While FHA does not have a specific credit score requirement, most lenders are only approving deals with a score of 620 or greater. However, there are still lenders that allow no credit checks or minimum credit score.

For more information or questions, please contact me

Paul Defngin

240-447-2376