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How much does is cost for FHA Streamline Refinancing?

admin — Mon, 12 Oct 2009 06:37:32 +0000

From what I understand I would have to repay for escrow but then get that amount refunded from my prior mortgage company and then closing costs. Ive been told it will cost roughly ,000 in closing and ,000 in escrow. The refi guys are trying to "soften" the blow by saying that I get to skip a month of payment due to the refi so that the refi costs want hit me as hard. Can anyone tell me there recent experience, how much it costs for refi, and what company?

Thanks

Technorati Tags: closing costs, company thanks, escrow, mortgage company

refinancing with fha loan, i have some chipped paint on exterior trim and cannot paint due to weather?

admin — Sat, 03 Oct 2009 15:28:35 +0000

i wanted to know if anyone knows if i can scrape and sand areas of chipped paint to pass inspection for fha loan.
the appraiser was here and 2 weeks later i was told that i would have to scrape and paint trim on garage where it is chipped. i have no problem doing this except that our temps are below freezing. so its about safety and lead paint (which it is not lead paint but house was build before 78 so they say it could be) would scraping the peeled paint for now be ok to pass. does anyone know?

Technorati Tags: chipped paint, fha loan, lead paint, sand areas

Is Title Insurance required for a FHA Streamline refinance?

admin — Wed, 30 Sep 2009 23:33:29 +0000

Can a FHA loan be refinance into a conventional loan after 120 days from purchase date?

admin — Mon, 21 Sep 2009 14:01:55 +0000

I was told FHA loans can not be refinanced for 12 months using a new appraised price (the refi has to be on the purchase price, not the appraised price). That is true, however, I was also told that I would have to wait for 6 months after the purchase to refi with a conventional loan using the appraised value rather than sale price. Is this true.. as much info as possible would be great

Technorati Tags: 12 months, conventional loan, FHA Loans, refi

Questions about FHA Streamline rate reduction program?

admin — Fri, 18 Sep 2009 08:43:04 +0000

I have a FHA loan and keep hearing about the FHA streamline refinancing. Can anyone tell me the pros and cons to this program. I also want to know the approximate closing costs or points associated with it. With this program can I roll the fees into the mortgage? Thanks.

Technorati Tags: closing costs, fha loan, fha streamline refinancing, mortgage, pros and cons

Can I still refinance out of PMI on my 15yr FHA loan?

admin — Mon, 14 Sep 2009 23:30:01 +0000

I have a 15 year FHA loan that origninated June 2 2008. I had a 10% downpayment and had upfront PMI tacked on to the loan. I would now like to refinance to a 30 year conventional loan with 20% down. Will a percentage of my current PMI be removed or have the laws changed?

Technorati Tags: conventional loan, downpayment, fha loan, pmi

Are these closing costs excessive for an FHA mortgage refinance?

admin — Sat, 12 Sep 2009 06:17:17 +0000

OK, are these numbers too high, or am I just being overly cautious. My current loan is at 6.375% and has a balance of ,5000. My mortgage company is offering me a new 30 year loan at 5.5% (or lower), but the new loan would be for 3K. They are telling me the closing costs are going to be around ,900 with and additional 00 in FHA fees. Is this right?

Technorati Tags: closing costs, fha, mortgage company

Can you rent out a property that has an FHA loan?

admin — Wed, 09 Sep 2009 13:47:35 +0000

I’ve lived there for a year, but now want to get a FHA streamlined refinance. Do we have to live there for another year after the refinance?

Technorati Tags: fha

Refinancing MassHousing/FHA Mortgage?

admin — Sun, 06 Sep 2009 06:55:15 +0000

I think it’s very annoying that people who do things right get ripped off and people who don’t rip the benefits. I don’t know the specifics of this new "bail out" plan but I think that I should get some benefit.

I bought my condo in September in Boston and financed with MassHousing (they give out FHA mortgages).
Purchased Price: 1,000
Net Financed amount: 0,950
Interest: 6.5%
Appraised: 5,000
Assessed: 7,300

A month after I got my rate, their interest rate fell. The broker told me that (even though my rate wasn’t locked), I had to keep the 6.5% rate. I ended up having to go with their rate. Five months later, their rate is 5.1% and I wrote to them asking for an interest change but they tell me that I am not in "hardship" so they can’t do anything.

I think this is bull! The people out there who made poor decision are in hardship but if I’m trying to save 0/month I’m not. That’s 2 months of mortgage a year!

Anyway… any chance that I can refinance this new mortgage with someone else that will give me a lower rate? How do I go about it and when can I do that?

Technorati Tags: benefit, boston, fha mortgages, five months, interest change, interest rate, masshousing, new mortgage, poor decision, price 1, specifics

Is this a good time to get an FHA morgage?

admin — Thu, 03 Sep 2009 14:20:20 +0000

Wells Fargo called us and said we are eligible for an FHA refinance – is government funded loans a good idea with the economy the way it is?

Technorati Tags: economy, fha, loans, wells fargo