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If you are a Delaware Home Owner who currently as an FHA Mortgage Loan with a rate of 5.5% or higher, you should get a free analysis now to see whether you can qualify for an Delaware FHA Streamline Refinance.  Rates are as low as they have ever been in history so now is the time to lower your interest and your payment.

The FHA Streamline Guidelines make it much easier to refinance than a traditional mortgage.  You don’t want to wait because interest rates are going up soon and Congress recently passed a bill that will allow FHA to increase the monthly mortgage insurance on any new FHA loans in the future.  So refinance now before they change the guidelines!!

Requirements for FHA Streamline Refinance

There are several requirements that need to be met in order to qualify for an FHA Streamline.

• Must currently have an FHA loan. This program is only for FHA to FHA refinances.
• Must be current on your mortgage. FHA will not allow the refinance of a past due FHA mortgage.
• The new payment must be at least 5% less than the current payment. The total principle, interest, taxes, insurance, and mortgage insurance are used in this calculation. This is also why an increase in the monthly mortgage insurance would make it difficult to get the needed payment drop for a refinance to make sense.

You can call me at 302-703-0727 for a free mortgage analysis or you can APPLY ONLINE.

John R. Thomas – Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-960-3109 PA Office / 410-412-3319 MD Office