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Old 02-10-2009, 11:48 AM
 
181 posts, read 553,362 times
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Hi,

I've been contacted by a company offering to streamline my FHA mortgage.

Does anyone have any idea what the current rates would / should be for this?

Thanks,
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Old 02-10-2009, 11:54 AM
 
135 posts, read 635,346 times
Reputation: 45
I dont know what is Stream line FHA;
But this is what I got today from Bank of America
10% down - $260K purchase price - Credit score about 750
5.00% with 0.125 points
4.75% with 0.5 points..
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Old 02-11-2009, 07:07 PM
 
Location: NJ
1,409 posts, read 2,924,009 times
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a streamline is a rate and term only.you can do this only if it was a previous purchase and as long as the mortgage does not exceed the original loan amount. and there is no appraisal,income,and only a mortgage only credit is done. i think the rates are about 5 right now. its worth it if your payment will go lower.
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Old 02-11-2009, 11:31 PM
 
Location: Denver
3,139 posts, read 6,913,458 times
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Is there a time limit that you have to have your first loan before can streamline refi?
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Old 02-12-2009, 05:55 AM
 
Location: NJ
1,409 posts, read 2,924,009 times
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no i think you can do a streamline even 2 months after you purchase up to a year as long as you didnt refi before then.of course you have to be ontime with your mortgage payments.
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Old 02-12-2009, 06:28 AM
 
Location: Southwest Nebraska
1,297 posts, read 4,027,541 times
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Quote:
Originally Posted by deb8997 View Post
no i think you can do a streamline even 2 months after you purchase up to a year as long as you didnt refi before then.of course you have to be ontime with your mortgage payments.
On time with mortgage payments, I thought Obama was going to make those go away. lol
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Old 02-12-2009, 11:05 AM
 
181 posts, read 553,362 times
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3 mths is the minimum
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Old 02-12-2009, 11:37 AM
 
Location: The Hall of Justice
25,907 posts, read 35,012,832 times
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I don't believe there is a minimum. We got an FHA streamline loan in December.
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Old 02-13-2009, 12:30 PM
 
17 posts, read 40,530 times
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Do you have to pay new closing costs if they are originating a new loan?
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Old 02-13-2009, 01:33 PM
 
181 posts, read 553,362 times
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No closing costs. No extra costs at all.
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