Can I do an FHA Streamline on an existing FHA Streamline Mortgage?
Has anything changed recently with FHA Streamline requirements where I can use the Streamline process again on my existing FHA loan? My existing mortgage was refinanced over 2.5 years ago through the FHA Streamline process. I have remained current with my payments. My interest rate is 6.0% and I would love to get into the very low rates available. About a year ago, I was told FHA Streamline cannot be used on a mortgage that was FHA Streamline refi'd before. by sgccms_977_666 from Moreno Valley, California. Aug 29th 2011
Stephen Harris (stephen.harris)
#38 ranked lender in Ohio - 37 contributions
Yes you can do a streamline refinance but rules have changed. If you get an appraisal done the max ltv will be 97.75%. If you go without an appraisal must pay all costs and escrows outside of the new mortgage loan or look for a deal with a lender credit to help cover the costs. Call me if you have any furthur questions. Rates are much lower now. 866-220-2815
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
YES, you can streamline a streamline - but the basic streamline rules have changed dramatically. You may not be able to do things exactly the same as in the past. Contact a local NMLS LICENSED Loan Officer to discuss those changes and how they effect you. The good news is, if you are at 6.00% today, you are going to be happy with what the lender tells you!
Deborah Garvin (loanmonarch)
#497 ranked lender in California - 53 contributions
As indicated, the rules have changed somewhat; however, you can use a new streamline. Please contact me to go over an appropriate strategy for you and your situation. Deborah 619.787.8212
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