Advantages of Refinancing via FHA Streamline Loans

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Refinancing can help reduce interest, which is a great option for borrowers. However, it’s a daunting task to find the right refinancing program that’ll benefit you the most. If you have a loan program insured by the FHA, then you qualify for an FHA Streamline Loan program. This presentation provides valuable information about the advantages of refinancing via FHA Streamline Loan. To learn more, please visit: https://www.drewmortgage.com/advantages-of-refinancing-via-fha-streamline-loans/

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Advantages of Refinancing via FHA Streamline Loans :

Advantages of Refinancing via FHA Streamline Loans

Introduction :

Introduction Refinancing is a good option for borrowers looking to benefit by reducing his or her interest rate. However, it’s a daunting task to pick the right refinancing program that’ll offer maximum benefits. An FHA Streamline program is available for those who have loan programs insured by the FHA. If you’re unsure about whether to choose an FHA Streamline program, we’ve listed some benefits for you. 2

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1. Reduced Processing Time This home loan program takes less processing time since some of the requirements are waived by the FHA. It requires less paperwork, which expedites your documentation time. 2. Lower Fees The fees of an FHA Streamline Loan are quite lower than a Standard FHA loan. Even with a Streamline loan additional benefit, the interest rates are still similar to that of an FHA Standard Loan. 3

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3. No New Appraisal The FHA doesn’t require you to conduct an appraisal of your property. You can also take out a refinance loan at an original price, thus saving a considerable amount of time. 4. Minimal Repairs Unlike a Standard FHA Loan, the Streamline Loan doesn’t require mandatory repairs before closing the loan. In fact, the repair requirements are quite minimal. 4

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5. Reduced Payments It’s possible to reduce your household expenses with the help of Streamline Loans, since refinancing a Fixed FHA Loan is only possible if it entails a reduction in the periodic principal and interest amount. Your payments may increase if you switch from an Adjustable Rate Loan to a Fixed Rate Loan. You can escape the uncertainty of market fluctuations by switching to a Fixed Rate Loan. 5

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At Drew Mortgage Associates, one of the top mortgage lenders in Boston, we understand that your unique financial needs require unique solutions. We’re more than just mortgage lenders, we’re our clients’ personal financial consultant, helping them shop for the best loan program available. We can play a pivotal role in your loan processing procedure, helping you along every step of the way. Read more about refinancing mortgages : https://www.drewmortgage.com/advantages-of-refinancing-via-fha-streamline-loans/ 6

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DREW MORTGAGE BRANCH OFFICES: Drew Mortgage Associates 196 Boston Turnpike Road Shrewsbury, MA 01545 Phone: 508-753-1656 Website: https://www.drewmortgage.com/ Peabody Mortgage Lenders 1 Mt Pleasant Drive Peabody, MA 01960 Phone: (978) 750-1080 Boston Mortgage Lenders 232 Commercial St Boston, MA 02109 Phone: (617) 523-3060 7

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