Jeremy Lovett
480-744-6040
Jeremy@JJLovett.com
http://www.JJLovett.com

This week I cover the new changes being rolled out to the FHA Streamline refinance program. In the past many changes to the refinance programs have been marginal at best when it comes to saving people money but that is not the case with this change.

Starting on June 11th 2012 all new FHA Streamline refinances that are done on a loan originated before June of 2009 will received greatly reduced mortgage insurance. The up front insurance is going down from 1.75% to .01% or essentially zero. The monthly mortgage insurance is being reduced from 1.25% to .55% which is a huge savings.

When you combine these changes with the record low rates you finally get a refinance program that works extremely well for the homeowners who can actually take advantage of it. The kicker here is that you must have an FHA loan and it has to have been originated prior to June of 2009. If that is the case then you can likely save a ton of money all with very little documentation and no appraisal in most cases.

For more information about this program just give me a call at 480-744-6040 or e-mail me at Jeremy@JJLovett.com

As always if you have a lender that is delaying a closing or just not returning your calls give me a call and let us get you back on track.

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