Does the Media & Information Overload Cause People to Freeze Like a Deer in the Headlights?

Yes, Many Home owners are still hesitant to investigate the possibility of refinancing their home and saving hundreds of dollars a month, due to "Mis-Information" by the media and friends & family.  I painfully learned a few years back that if I wanted to learn the facts about something, ask someone smarter than you. Now, I am not saying that's me, but chances are, by living in it each day, I know more about mortgage financing than the average homeowner.

Changes to the FHA streamline program for homeowners have made it far more attractive and simple to reduce interest rates and lower payments, even if you owe more than your home is worth…

What is the FHA Streamline Program?

FHA Streamline refinances enable Delaware homeowners to refinance their current FHA home loans with reduced paperwork and underwriting to take advantage of lower interest rates so that borrowers can save more money, lower their monthly housing payments and in some cases change from an adjustable rate mortgage to a fixed rate mortgage loan or even shorten the term of their loans.

This means less hassle, less paper, faster processing and potentially huge savings over the life of your loan.
There are many advantages for Delaware property owners, including the availability of ‘no-cost’ refinances and even those who didn’t qualify before might qualify now.

What Are the New Changes That Make FHA Streamline Loans Even Better?
These home loans have been available for years. Unfortunately, recent increases to mortgage insurance (MI) premiums often wiped out the savings for those refinancing.

At least until now…
New changes to the FHA Streamline program apply to those whose FHA-insured home loans were endorsed on or before May 31^st, 2009.
In an effort to assist more Delaware homeowners with FHA mortgages to refinance at today’s incredibly interest rates FHA mortgage insurance rates were reduced, effective June 11^th, 2012.
This new change alone means thousands of dollars in savings for most borrowers.

According to the FHA, based upon a $200,000 30 year mortgage with a loan-to-value higher than 95%, those who took out loans on or before May 31st, 2009, will now realize the following savings: Before June 11th, 2012 After June 11th, 2012 Mortgage Premium at Closing $3,500 $20 Monthly MI Premium $208.33 $91.67 Upfront MI Premium Percentage 1.75% 0.01% Annual MI Premium Percentage 1.25% 0.55% *Guidelines may change so please check with us to determine the exact savings for your specific situation. Additional guidelines for FHA streamline refinances state that: NO employment verification is required* NO income verification is required* NO credit score verification is required* *IMPORTANT: These are FHA guidelines. Lenders may have their own guidelines called overlays, which may require all or some of these guidelines to be met. Features & Benefits of Delaware FHA Streamline Mortgages Why choose an FHA Streamline refinance? In addition to incredibly low interest rates and massive savings over the life of your mortgage loan, streamlined refinances offer the following benefits: Low MI No appraisals required ‘No-cost’ refinancing possible Lower credit scores OK No loan balance increase to cover loan costs Can refinance even if ‘underwater’ Do You Qualify for an FHA Streamline Refinance? Are you ready to start saving and lower your monthly housing payments so that you can get ahead and have more free cash in your hand each and every month from here on out? Delaware FHA streamline refinances couldn’t be easier and less stress-free to qualify for, but in order to be eligible for the newest program updates you will need to have: FHA-insured loan was endorsed on or before May 31st,2009 Must currently have a FHA loan Not refinanced within the last 6 months Not been more than 30 days late on your mortgage payments in the last 12 months Note that while FHA itself requires no minimum credit scores or income or employment verification, most lenders do have their own additional criteria for these items. More About FHA Streamline Eligibility Guidelines... Find out how much you can save...
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	Mortgage Network Solutions Christopher Rowe Email: mtg4myhome@gmail.com Phone: 302-897-8558
Contact Christopher Rowe, your Delaware FHA Streamline Refinancing Specialist at 302-897-8558, to setup a free consultation or complete our Free No-Obligation FHA Streamline Analysis Form Here to discover your potential FHA streamline refinance savings.
	Mortgage Network Solutions is a Licensed Mortgage Banker regulated by the DE State Banking Commissioner Notice: This is a privately owned and maintained web site and is not a government agency. This site is not affiliated, endorsed or a division of HUD or FHA. If you are looking for FHA or HUD, you may contact them here
All information contained herein is for informational purposes only and, while every effort has been made to insure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs, and underwriting policies are subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Some products may not be available in all states and restrictions apply.