If you have a FHA mortgage now you may want to look into a FHA streamline refinance in Virginia Beach, VA which may help you lower your current payment and save you quite a bit than a regular refinance. With values declining in certain areas it seems to be harder to find solutions for refinancing current mortgages. But there is good news for some.
If you currently have a FHA mortgage then you can do a streamline refinance without an appraisal as long as the balance doesn’t increase over the original amount.
The requirements are simple
- You must be current on your FHA mortgage
- No Cash Out
- You must already have a FHA mortgage
- There must be a benefit ( lowering your payment, get into a fixed loan, lowering your term)
Things you won’t need
- Income documentation
- Asset documentation
- Appraisal
* FHA does not have a specific credit score requirement, but most of the lenders are only approving deals with a >620 score. Please check with your local loan officer to make sure.
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“I’m never too busy for your referrals.”
Naoma Doriguzzi
Professional Mortgage Consultant
New American Mortgage
575 Lynnhaven Pkwy Ste 101
Virginia Beach, VA 23452
Cell: (757)971-2876
Fax: (757) 315-8160
