June 5, 2012
Many home owners with an FHA loan have not benefitted from a refinance because of mortgage insurance guidelines. Even with the interest rates being a whole percentage or more below what their current rate is, the higher mortgage insurance guidelines take away the benefit of the refinance.
If you or someone you know has an FHA loan but has not refinanced and taken advantage of the low rates it may soon be worth the effort!
According to FHA News Editor, thousands of FHA borrowers will be able to save money through the FHA?s Streamline Refinance Program. Additionally, the Federal Housing Administration will lower its Upfront Mortgage Insurance Premium (UFMIP) to .01 percent, potentially saving borrowers thousands of dollars.
If you want to learn more or want to know if you qualify, contact Lisa Severseike. She'll be happy to go over the process with you and answer any questions you may have:
Lisa Severseike, President
Mortgage Loan Originator
Iowa License #13238 NMLS #7911
lisa@globalstatemortgage.com
515.231.4119
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