Arizona FHA Streamline Rates Low

Arizona FHA Streamline Refi

The simple answer is most likely YES!   Everyone homeowner’s situation is different however for many now is the time.  Today’s Arizona FHA mortgage environment is primed to help Phoenix area FHA homeowners make the most of the super simple and efficient FHA streamline refinance program.  Learn more about how a streamline refi can help you and how they work.

Low FHA Streamline Rates Make it a Great time to Refi

With Arizona’s low mortgage rates consistently hovering at or below the 4% mark on a 30 year fixed FHA mortgage (rates subject to change daily), now is the time to take advantage of some of the cheapest mortgage money in history.  In addition, many FHA homeowners that have been trapped in their high rate FHA mortgage for years (since before May 31, 2009) are now able to move forward due to some major FHA streamline changes.  Learn more about these changes.  Based on FHA mortgage rates prior to 2009, many FHA homeowners stand to cut 1% TO 2% or more off of their existing mortgage rate and reduce their payments significantly.

Streamlines require no appraisal and no income verification (perfect for this current market).  The whole refi process takes as little as 2 weeks.  Keep in mind you always want to close your FHA streamline at the end of the month due to the way FHA calculates a mortgage payoff.  Long story short, FHA charges a full month’s interest regardless of when you close.  As such, it makes the most sense to close at the end of the month due to the fact that FHA will charge you interest for the whole month no matter when you close.

If you have any questions about how an FHA streamline refi can help you feel free to check out the FHA streamline section of the blog.  You can also call me or email me.  As your Arizona FHA Streamline lender, I will help answer any of your FHA streamline related questions.

By Jeremy House

 

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