Once we got word of the reduced mortgage insurance premiums for mortgages endorsed prior to June 1, 2009 we knew the program would be more attractive to many borrowers and expected the influx of interest said Mike Sierck, of Comstock Mortgage.
Sacramento, CA (PRWEB) September 04, 2012
Comstock Mortgage launches new FHA Streamline Refinance website for California homeowners to get quick and experienced guidance in applying and qualifying for FHA home loan refinancing.
In many ways the FHA Streamline is one of the best refinance options available today. Without the usually extensive qualification process or need of an appraisal, qualified borrowers are fast on their way to saving money by refinancing at today’s historically low rates.
Even if the outstanding mortgage is more than the value of the home (underwater mortgage) applicants may still qualify. Consequently demand and interest for the Streamline Refinance has increased dramatically for Mortgage Brokers across the Country.
“We started to see an influx of inquiries from FHA Streamline applicants around the beginning of the year," said Russ Moen, of Comstock Mortgage.
"It was obvious from the volume of emails and questions our agents were receiving that we needed to deploy a resource site for California residents to quickly discern if they were a candidate for the program.”
The guidelines for refinancing are very straight forward;
The Existing Mortgage Must Be FHA Insured With No Late Payments In The Last Twelve Months.
To make the FHA Streamline program even more attractive, the FHA recently reduced the upfront mortgage insurance premium to .01% and the annual mortgage insurance premium to .55% for mortgages that were endorsed prior to June 1, 2009. This is a great opportunity that the FHA has extended to borrowers that qualify in an effort to help more Americans take advantage, not only by refinancing to a lower mortgage rate, but also allowing a drastic reduction in fees.
"Once we got word of the reduced mortgage insurance premiums for mortgages endorsed prior to June 1, 2009 we knew the program would be more attractive to many borrowers and expected the influx of interest" said Mike Sierck, of Comstock Mortgage.
Homeowner in California with an existing FHA mortgage shouldn’t hesitate any longer to see if they qualify to take advantage of this fantastic refinance program! They may contact Comstock's experienced Loan Consultants today for more information.
Fannie Mae and Freddie Mac backed mortgage holders also have a resource (see HARP Application for Underwater Freddie Mac and Fannie Mae Borrowers)
Comstock Mortgage has been providing home loan programs to California Residents for over twenty years, they have 8 office locations and a large team of experienced loan consultants so even if a Streamline Refinance is not for you they may still be able to help with product alternatives.
Individual investor overlays and criteria may apply.
Homeowners that believe they may qualify are encouraged to visit their Streamline Application website at http://www.streamlineapplication.com.
Comstock Mortgage is a California Department of Real Estate (DRE) licensed broker with more than 20 years’ experience in all areas of home loan financing as both a Mortgage Banker and Mortgage Broker. California DRE #01390474 DOC #6073484 NMLS #165193