Lender · Turlock, CA · Member since 2015 · 46 posts · 33 votes
6y
Mostly all pros if it is going to drop your rate significantly. The nice thing about FHA streamlines is you don't have to provide any income supporting documentation such as paystubs, W2s, taxes, bank statements, etc. You also don't have to do an appraisal. It is simply a rate reduction.
What is your current rate, and what is the bank offering?
I'm not sure yet what they are offering ( Going to call them first thing Tuesday morning )
Do you have to pay Closing Costs?
If I've paid on the house for 5 years of the 30 year loan - It will stay at the remaining 25 years left to pay on it correct - it won't go back to an all new 30 year loan?
I'm not sure yet what they are offering ( Going to call them first thing Tuesday morning )
Do you have to pay Closing Costs?
If I've paid on the house for 5 years of the 30 year loan - It will stay at the remaining 25 years left to pay on it correct - it won't go back to an all new 30 year loan?