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Has anyone with an FHA loan done a streamline re-fi?

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BaroqueMama
Chase is one!

Member since 5/05

27530 total posts

Name:
me

Has anyone with an FHA loan done a streamline re-fi?

My friend, who closed on her house with an FHA loan a couple of months before us is doing this right now, she's locked in at 6% (so are we) and she'll soon be locked in at 5%. Supposedly there is minimal paperwork and no closing costs. This sounds too good to be true. Just wondering if anyone has taken advantage of this?

Posted 4/13/09 7:13 PM
 
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luckysmom
Yes it is! Going as planned:)

Member since 6/07

5339 total posts

Name:

Re: Has anyone with an FHA loan done a streamline re-fi?

What is a streamline Re-fi? We closed on our house in February. We got a great interest rate but we HATE our mtg company and would like to re-fi to get rid of them.

Posted 4/13/09 10:42 PM
 

My3Shmoos
Me and my Monkey

Member since 7/06

2437 total posts

Name:
K

Re: Has anyone with an FHA loan done a streamline re-fi?

We did this 6 years ago. We used the same company we got out mortagage with way back then. It was sooooo easy and obviously got us a better rate. Back then we were with Continental Capital.

Posted 4/14/09 12:20 AM
 

Aries14
Can't plan life...

Member since 8/08

2860 total posts

Name:

Re: Has anyone with an FHA loan done a streamline re-fi?

yes, going through the process now. We will go from 6.5% to 5% but we are paying closing costs.

ETA: we are not paing closing cost out of pockect - they are rolling it into the mortgage.

Message edited 4/14/2009 12:15:26 PM.

Posted 4/14/09 12:14 PM
 

groovypeg
:)

Member since 5/05

2423 total posts

Name:

Re: Has anyone with an FHA loan done a streamline re-fi?

i am... we have a 6.5 and are locking in at 4.875. we are paying closing costs though bc we refi'd in july 08 so there is not much we can roll in.

Posted 4/14/09 12:34 PM
 
 

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