Advantages of Refinancing via FHA Streamline Loans (1)

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Advantages of Refinancing via
FHA Streamline Loans




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Introduction

• Refinancing is a good option for borrowers
  looking to benefit by reducing his or her
  interest rate. However, its a daunting task to
  pick the right refinancing program thatll offer
  maximum benefits.
• An FHA Streamline program is available for those
  who have loan programs insured by the FHA.
• If youre unsure about whether to choose an FHA
  Streamline program, weve listed some benefits
  for you.

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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.

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• 3. No New Appraisal
• The FHA doesnt 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
  doesnt require mandatory repairs before closing
  the loan. In fact, the repair requirements are
  quite minimal.

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• 5. Reduced Payments
• Its 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.

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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. Were more than just mortgage lenders,
  were 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-refinan
  cing-via-fha-streamline-loans/

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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 [phone]
Boston Mortgage Lenders 232 Commercial St Boston,
MA 02109 Phone [phone]
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