FHA Streamline Refinance of Investment Property

Seller paid closing costs

Mortgage rates have dropped again this week.  Meaning, it’s time to Refinance that Rental home, and get a better cash flow! If you’ve been looking for a Bank that offers the FHA Streamline Refinance of Investment Property, you’ve finally found the right place! FHA Mortgage Loans are generally only available to folks who are going to live […]

FHA Streamline Refinance When You Do Not Occupy Property

FHA Streamline Refinance Investment Property

Mortgage rates have dipped again, and Government loan mortgage rates are now nearing the lowest levels we’ve seen – again! Lower interest rates mean folks are thinking about refinancing their homes.  Especially folks who didn’t have the ability to refinance it within the last couple of years! FHA allows you to Streamline Refinance when you […]

When Does FHA PMI Stop?

FHA MIP Cancelled

With the new FHA Streamline Refinance program – and the recent changes in the FHA PMI rates – we’ve had several people ask, “When Can I Cancel and Get Rid of FHA Mortgage Insurance Premium?” In other words, When Does FHA PMI Stop ? The good news is that unlike the USDA Loan Program (that also saw […]

When Does FHA PMI Get Cancelled?

fha-streamline refinance

If you are considering a Refinance of your FHA Home Loan, like many folks in North Carolina, we need to talk about when you closed on your mortgage.  Because FHA is really just a giant insurance program, they’ve changed their insurance rates and terms MANY times in the past 5 years trying to keep the […]

Could The New FHFA Head Change FHA PMI Endorsement Date?

Endorsement Date After June 2009

There’s an interesting article out today by Christina Mlynski, discussing the new nominee for the Head of the FHFA.  The Obama administration recently nominated NC Congressman Mel Watt for this job.  It’s the MASSIVE Agency that resides over HUD, Fannie Mae, Freddie Mac – all things mortgage. Apparently, these are the guys who initially came […]

Letter to Congress: FHA Streamline Refinance On Loan Endorsed After June 1 2009

Letter to Congress

I’ve never accepted a guest post – however, I received a letter from a borrower who is frustrated by the FHA Streamline Refinance System.  The Borrower (who lives in NC) has a FHA loan, and wants to take advantage of the low FHA Mortgage Rates – however, her loan was endorsed 11 days after the […]

FHA Says No New FHA PMI Rate Hikes Right Now

first_time_home_buyer_program_cary

Good News!  FHA and the Secretary of the Department of Housing and Urban Development say that they are getting all that they need to sustain the FHA Mortgage Loan program from the current FHA PMI Rate.  The agency has increased premiums more than 5 times in the last 3 years, and currently offers the HIGHEST […]

New Refinance or Loan Modification For Underwater Homeowners

http://listings.realbird.com/Real_Estate/In-Ground-Pool-to-Enjoy-/Cary/NC/C9I7L9R4/187635.aspx?tab=photos

New Refinance or Modification Program for mortgages NOT owned by Fannie or Freddie?  We just read this and thought it was interesting: “Not enough can be said about the importance of silence!” But there is no silence on rumors that the Treasury Department might try to push through a new initiative, referred to as the “Market Rate Modification […]

Refinance with No Appraisal in NC

There are tons of folks who want to refinance their house in NC – but don’t think it will appraise for what they owe.  Did you know that there are SEVERAL programs available that do NOT require an Appraisal?  If Fannie Mae or Freddie Mac have your mortgage – you can get a loan for […]

4 Reasons Why You Should Refinance

Take a Cruise! Refinance

Being the Holiday Season, many people are trying to figure out how they could get a little extra cash (Maybe you want to take your bride on a Cruise?).  Mortgage rates have continued to go lower and, when you refinance your mortgage, you get to skip a mortgage payment!  But that’s not really WHY you […]