Save your money
Would you like your Oregon FHA mortgage payment to be smaller? Would you like to be paying less interest on your Oregon FHA loan? An Oregon FHA Streamline Refinance is the answer.
Up until now, the FHA streamline program was a hard product to use because of having to bring money in to close. This was due to establishing a new impound/escrow account for taxes and insurance while your current lender held your escrow account until after they were paid off. However, that changes in October as do some other things.
In October, the current lender will be paying the taxes from the current impound account. In October, FHA will be increasing (probably) the price of yearly (paid monthly) mortgage insurance. However, in regard to the mortgage insurance, any loans in process (FHA case numbers assigned) will be on the old rate.
I love giving examples, take this one for instance:
| Current Loan | New Loan | Savings | |
| Open Date | 7/15/2008 | 10/28/2010 | |
| Loan Amount | $200,000 | $197,483 | |
| Interest Rate | 6.0% | 4.75% | |
| Principal & Int | $1,399.10 | $1,230.17 | $168.93 |
| Mortgage Ins | $90.09 | $88.52 | $1.57 |
| Total | $1.489.19 | $1,319.69 | $170.5 |
| APR New Loan | 5.498% | ||
| Interest over term of loan Remaining & New |
$231.676.38 | $171.914.39 | $32,155.12 |
Now is the perfect time to think about an FHA to FHA refinance. Mortgage insurance rates are going up. Taxes will soon be paid. No appraisal or income qualification. As long as your mortgage is, and has been, current, it can be done. Why not save money on your monthly mortgage payment while saving thousands of dollars on interest over the life of the loan? If your rate is higher than this or you owe more on your loan than this, your savings could potentially be a lot higher. Let’s talk!
It is time to start the process to get that case number assigned and the rate you need to make the process work. We need to get going to take advantage of the window of opportunity being provided.
Contact me
Navigating the mortgage approval process can be daunting. You need someone on your side. I am available right now to help you with the loan process and know the ins and outs of FHA, VA, USDA and conventional financing. If you want to buy a home using an FHA loan or refinance using VA, I am here to help. Contact me at Alpine Mortgage Planning, 1200 Executive Pkwy., Ste. 100, Eugene OR 97401, 541-342-7576/541-221-3455 cell or by e-mail. Only you can make the choice it is time to get the process started.
*This is not an offer to lend. 
Obama Refinance Plan For San Jose Homeowners AnnouncedHome Affordable Refinance Program Update Harp 2 Bay Area San Francisco California March 2012 Guidelines for Purchasing a 3 to 4 Unit Property with FHA Financing in Alameda, CA8 Year Fixed to 30 Year Fixed. You Can Choose Your Loan Term In San Jose
