FHA MORTGAGE REFINANCING OPTIONS- FHA mortgage refinancing benefits current Florida home owners that are seeking to FHA mortgage refinance a Florida mortgage. An FHA mortgage refinance will also benefit Florida mortgage applicants that DO NOT currently have an FHA mortgage. FHA mortgage refinancing offers current Florida homeowners the most flexible FHA refinancing options available. We can even FHA mortgage refinance Bad Credit Florida Mortgage applicants with our FHA 530 Mortgage. Below you will find some different ways Florida FHA mortgage applicants can take advantage of an FHA mortgage refinance.
• FHA CASH OUT REFINANCE: Florida homeowners can FHA cash out refinance with FHA mortgage at a higher loan to value than any other Florida mortgage program. With an FHA mortgage refinance, current Florida homeowners can cash equity built up in their homes; up to 85% of the home’s FHA appraised value, to spend how they please.
• FHA MORTGAGE REFINANCE TO CONSOLIDATE DEBT: Current Florida homeowners with higher interest credit cards and other high interest debt can be consolidated into one low monthly Florida FHA mortgage payment with an FHA debt consolidation refinance.
• FHA MORTGAGE REFINANCE TO LOWER PAYMENTS: Florida homeowners with higher interest rate mortgage loans, including adjustable rate FHA mortgages, can use an FHA mortgage refinance to lower their monthly housing obligation. In addition, Florida FHA mortgage applicants can FHA refinance into a 15-year, 30-year or 40-year fixed rate Florida FHA mortgage to lower the Florida mortgage monthly payments.
• FHA STREAMLINE MORTGAGE REFINANCE: Florida FHA streamline mortgage refinancing is perfect for Florida homeowners who currently have an FHA mortgage and want to reduce their interest rate thus lowering payments. With an FHA streamline mortgage refinance, Florida homeowners can FHA refinance their Florida mortgage payments with no credit check and no appraisal. The only Florida FHA streamline refinancing condition is that the homeowner has to be current on the Florida FHA mortgage. Your Florida mortgage payments must be current to qualify for an FHA streamline refinance.
Florida FHA streamline - Florida-Mortgage-Lenders.com
| Florida FHA Steamline Refinance Mortgage Checklist |
| **Florida mortgage application with employment info but no income listed |
| **Four disclosures: 92900A, Important Notice to Homebuyer, Informed Consumer Choice, Notice to Homeowner (Assumption) |
| **Intent to Proceed disclosure |
| **Anti-Steering/Loan Options disclosure (if lender paid compensation) |
| **Loan Estimate and SSPL |
| Credit report (must have at least scores and mortgage history but full report is also allowed) |
| Credit supplement to verify mortgage history on subject property is current |
| SSA-89 form to validate SSN |
| Copy of existing mortgage note |
| Payoff Demand through funding date |
| Mortgage Statement to verify current monthly MIP |
| Signed affidavit from borrower to confirm property was not listed for sale at the time of app |
| 1 month bank statement to verify required cash to close |
| Current utility bill to verify occupancy |
| Prelim title w/24 month chain of title |
| CPL with mortgagee clause: |
| Wire instructions, Pre-CD, E&O, tax cert |
| HOI dec page with mortgagee clause: |
| FHA Case Number Assignment w/Netting Authorization (We pull) |
| Reminder that case number cannot be ordered until: |
| -- borrower has made at least 6 payments on current FHA loan |
| -- 6 full months have passed since first payment due date on current FHA loan |
| Also, keep in mind the first payment due date must be at least 210 days after first payment due date of the existing loan |
• CHAPTER 13 FHA MORTGAGE REFINANCE: FHA offers Florida Homeowners with or without an FHA mortgage the who have enough equity in their home and who are currently in a Chapter 13 repayment plan to FHA mortgage refinance their current Florida mortgage to consolidate and lower monthly Florida mortgage payments.
• FHA MORTGAGE REFINANCE FLORIDA LAND CONTRACT: FHA offers current Florida homeowners in a land contract, rent to own financing otherwise known as owner financing, the ability to FHA mortgage refinance a land contract to an FHA mortgage. The only stipulation is that you must provide proof of your most recent 12 months Florida mortgage payments. This is accomplished by providing your last 12 months canceled checks showing the owner financed Florida mortgage payments clearing your bank account.
If you have a conventional Florida mortgage you wish to refinance with an FHA refinance loan, you'll need to apply with the FHA mortgage application and include the usual employment verification, credit check, debt ratio requirements and other documentation. An FHA refinance loan can get you many of the same results, and you may get better rates and lower Florida mortgage payments.