FHA Streamline Refinance
The FHA "Streamline Refinance" allows FHA borrowers to take advantage of all time low FHA streamline rates. The Streamline Refinance was developed by the
Department of Housing and Urban Development (HUD) and has been around since the
early 1980's. This program is strictly regulated by HUD, and can only be
performed by certain FHA approved lenders.
The main purpose of the FHA streamline refinance is to lower your mortgage
payments. You are entitled to lower your payment every time interest rates drop.
You also may be eligible to shorten the term of your mortgage.
Since Oceanside Mortgage is a direct lender, we are able to offer some of the lowest FHA streamline rates. On average, our rates are between 0.375% and
0.750% lower then our competition. Even if you just closed on your current
mortgage, a lower rate may still be available.
- The loan being refinanced must be an FHA
- The borrower's Principal and Interest payment (P&I) must be reduced
- All loan being refinanced must be current
- No 30-day mortgage late payments in the prior 12 months are permitted
- All borrowers must be employed or retired
Why Choose Oceanside:
We have been doing streamline refinances since their inception. We have
refined the process in order to maximize the benefit to you. There are several
distinct advantages that Oceanside Mortgage can offer you.
- We offer a no closing cost option. This minimizes the amount of money added
to your loan
- We do not require an appraisal. It is ok if your property value has
- You are allowed to skip your next mortgage payment. This payment will be
financed into your loan
- We can transfer your escrow account to your new loan.
- We do not charge any ‘junk’ fees. You do not need to pay an appraisal fee, a
credit report fee, or an application fee
- We are a direct lender. We eliminate all ‘middle-man’ fees. Loan decisions
are made in house
How Do I Get Started?
Please contact a loan specialist immediately to get the process started. We
can provide you with a no-cost, no-obligation, loan benefit worksheet showing
you exactly how much you can save! There are 3 ways to do this:
- Call us toll free at 1-800-955-8965
- Send us an email
- Chat live with a loan officer now
There are a few documents we need you to collect to process your loan. Do not
worry if you cannot locate all of the documents, we should be able to help you.
We will need:
FHA Streamline refinance NJ
- Drivers License
- Social Security Card, W-2, or 1099
- Mortgage Note
- Homeowners Insurance Declaration Page
FHA Streamline refinance Pennsylvania