FHA Streamline Refinance Rates
Wow! Below 5% on a non-qualifying(mostly) loan. Still need a 620 credit score and job is verified. However, we do not calculate income/debt/assets.
A refinance is not for everyone..... But there is no charge to have a mortgage analysis done by your professional loan officer.
Call today for your free consultation!!
Tom Burris
DallasLoanGuy.com
Dallas, TX
I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!
Tom,
This sounds like a good deal for lots of people. What are the typical fees as a percentage of the amount refinanced?
Good question Wayne. But I typically do not measure fees as a % of the loan amount. As the % changes with the loan amount.
Typical lender fees are under $1000 + any points the client wants to buy. This is typical for most lenders.
In addition to those fees are all of the third party fees that are the same regardless of the lender.
Clients can really arrange their fee structure to suit themselves. Lower fees = higher rate. Higher fees = lower rate. <= This is the same for all lenders..... except for the scammers who try and call fees junk. Because they are rolling the fees in the rate.
We enjoyed an FHA streamline refi boom in the spring when rates were ultra low. The FHA product is so great this way because people were not trapped in an upside down property and were able to refi to the lower percentage without bothering with loan modifications! Almost every one of my FHA buyers in the last two years streamlined!
Tom,
Thanks for the post and for your answer to Wayne's question. I don't have additional comments or questions, you answered mine already.