Invaluable Tips for FHA Streamline Refinance Mortgage Instant Approval

PITTSFIELD, Mass. - July 12, 2013 - PRLog -- In fact, it is probably a good idea to make projections ahead of time in order to make sure when the time comes you will be prepared. This is quite important since one of the qualifying factors is your mortgage history with the FHA

Qualifying for a Streamline Refinance

Are you thinking about refinancing your FHA mortgage? There is one program that is much easier than probably any other refinancing option: the FHA streamline mortgage refinance. This is a program that is only available to those who are already FHA customers, and according to Real-Estate-Yogi.com, the primary qualifying factors are:

Must have a good payment history over the last year
Must have had excellent payment history over the last three months
Customer must have made at least six mortgage payments on their current mortgage loan
It must have been at least 210 days since the customer closed on the last refinance
Customer must have a specific reason to refinance

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This program works well for those who have a good payment history with the FHA but may have poor credit elsewhere. For more information on this program and to find out if you might qualify fill out the contact information form Real-Estate-Yogi provides on the website, and someone will be in touch with you very soon.

Applying for the Streamline Refinance Program

The FHA streamline refinance program is a great choice for those who don’t want to go through the hassle of credit check and employment verification. Of course, the program is designed for FHA customers with a good payment history, but they also must have an actual reason for refinancing and cannot increase their mortgage balance in order to accommodate closing costs on the loan. Those customers who wish to do this will have to use the streamline refinance program that includes income and credit verifications. The other option is for the lender to agree to waive the closing fees for the refinance or the borrower can obtain a gift from a friend or family member.

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Know the Qualifying Factors

There are several primary factors as listed above that pertain to the FHA streamline refinance mortgage. It’s important for a homeowner to know these factors in order to assess whether he qualifies for the streamline refinance program. If you know ahead of time what the qualifiers are it makes it easier to always work toward that goal so if you need it you don’t have to have any concerns.

The FHA streamline mortgage refinance program is a fast and easy option for homeowners who have a good payment history with the FHA. There are definitely benefits for the FHA streamline mortgage refinance, especially for those who will not pass a credit check under normal conditions. Qualifying for the FHA streamline refinance mortgage is not difficult, but the streamline refinance for an FHA mortgage is designed specifically for FHA customers.

It’s simple enough to obtain a FHA streamline refinance, but the question that comes to mind is whether you qualify. Take a visit to www.real-estate-yogi.com in order to browse through the abundance of information you find there on the topic of FHA refinances. You will also find a free database that includes over 250,000 experts in the legal and financial fields; these experts are located all over the country. If you would like to schedule a free consultation all you need to do is pick up your telephone and place a call to 1-800-397-1897 whenever you want.