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The payment can be modified if interest rates have dropped since the loan was issued. This is called an FHA streamline and is an excellent option. Usually the lender doing the streamline will roll the closing costs into the loan amount. It is worth doing this if one is getting a 1% or greater interest rate deduction and if one plans on staying in the home about 4 years longer.
Also if your loan to value ratio has dropped to 79% or less the mortgage insurance can be cleared. It is advisable to contact a mortgage banker for the various options.
What else can I help you with?
Can you get an FHA loan with an LLC?
No, you cannot get an FHA loan with an LLC. FHA loans are only available to individuals, not to businesses like LLCs.
What should I look for when applying for FHA loan?
Answering "What should I look for when applying for FHA loan?"
Is a FHA loan is a type of financial aid?
False, An FHA loan is NOT a type of financial aid.
What is the difference between a fha loan and a conventional loan?
An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.
Do you have to be married to get an FHA loan?
No.
Can you get an FHA loan with an LLC?
No, you cannot get an FHA loan with an LLC. FHA loans are only available to individuals, not to businesses like LLCs.
What should I look for when applying for FHA loan?
Answering "What should I look for when applying for FHA loan?"
Is a FHA loan is a type of financial aid?
False, An FHA loan is NOT a type of financial aid.
Is FHA mortgage owner occupied?
If you're trying to obtain an FHA loan then the answer is 'yes'. If you own an investment property that has an FHA loan, then you can streamline it.
Is a gse loan a fha loan?
yes
What is the difference between a fha loan and a conventional loan?
An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.
How can I FHA refinance my home mortgage loan?
The federal government administers FHA loans. Any information that you desire to learn about refinancing a government FHA loan can be found on the FHA web site.
Do you have to be married to get an FHA loan?
No.
Can a non-borrower be included on the title of an FHA loan?
No, a non-borrower cannot be included on the title of an FHA loan.
What are the requirements for an fha refinance?
An FHA loan is a loan for first time home buyers. HUD has a website where you can talk to FHA housing counselors who will be qualified to answer all your questions regarding an FHA loan (http://portal.hud.gov/hudportal/HUD?src=/i_want_to/talk_to_a_housing_counselor.
What does FHA stand for in the term FHA loan?
FHA stands for Federal Housing Administration. The FHA has several loan options which are mostly used for mortgages. The FHA loan makes it easier for people to qualify for a mortgage.
Can an LLC qualify for an FHA loan?
No, an LLC cannot qualify for an FHA loan. FHA loans are typically only available to individuals, not businesses or entities like LLCs.
