{"id":100,"date":"2011-04-29T21:19:50","date_gmt":"2011-04-29T21:19:50","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=100"},"modified":"2012-12-10T17:48:50","modified_gmt":"2012-12-10T17:48:50","slug":"refinancing-your-fha-mortgage-part-1","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/refinancing-your-fha-mortgage-part-1\/","title":{"rendered":"Refinancing Your FHA Mortgage- Part 1"},"content":{"rendered":"<p>One of the main\u00a0home financing options available right now\u00a0is a\u00a0FHA loan.\u00a0 In fact, in 2009 34.5% of all loans were\u00a0FHA\u00a0loans, in 2010 27.7% were FHA loans, and 33% in 2011 so far.\u00a0 With\u00a0so many FHA loans\u00a0administered by the Government\u00a0the last few years\u00a0FHA\u00a0mortgage holders need to be aware of the\u00a0advantages\ufeff they\u00a0may have when\u00a0contemplating\u00a0a refinance.<\/p>\n<p>One option a FHA loan holder\u00a0has is\u00a0to refinance their current FHA loan into another FHA loan.\u00a0\u00a0\u00a0This kind of loan is\u00a0called a\u00a0Streamline Refinance.\u00a0 This is a government program that is available to all\u00a0FHA mortgage holders (some qualification standards still apply-call to see if you are eligible)\u00a0because they wanted to allow FHA\u00a0borrower&#8217;s the ability to drop their interest rate if rates improved, quickly and with little to no cost.<\/p>\n<p>One of the advantages of this streamlined loan already mentioned above is the cost to complete them.\u00a0 The\u00a0Streamline Loan guidelines state that your new loan amount can only\u00a0increase by so much.\u00a0 To\u00a0help meet and satisfy this guideline,\u00a0credits are given back to you\u00a0at closing to help pay for any mortgage related costs.\u00a0 These credits\u00a0keep your loan size low and\u00a0close to your current mortgage balance.\u00a0 This obviously\u00a0turns into a fantastic deal for all potential Streamline Refinance customers.\u00a0\u00a0A FHA\u00a0mortgage holder\u00a0can even\u00a0potentially\u00a0lower their loan size after the appropriate credits are given at close.\u00a0 Again, this program helps\u00a0 save FHA\u00a0loan holder&#8217;s the precious equity\u00a0they have in their home by utilizing this fantastic mortgage\u00a0option and still drop their rate and save money.\u00a0 The proverbial win\/win situation.<\/p>\n<p>Stayed tuned for part 2 of\u00a0&#8220;Refinancing\u00a0Your FHA Mortgage&#8221;.\u00a0\u00a0 You can\u00a0learn about reduced\u00a0paperwork requirements and also learn how FHA Streamline Refinance&#8217;s do not\u00a0always require an appraisal.\u00a0 See you soon.<\/p>\n<h2>Request information on a FHA Mortgage<\/h2>\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f185-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"185\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/100#wpcf7-f185-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"185\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.6\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f185-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/fieldset>\n<div class=\"application_form\">\n\t<div class=\"block_top\" id=\"apply_form\">\n\t<\/div>\n\t<div class=\"spacer_top\">\n\t<\/div>\n\t<div class=\"ApplyFullHeader\">\n\t\t<p class=\"replaceheader\">Request Home Loan Information Now!\n\t\t<\/p>\n\t<\/div>\n\t<div class=\"blueBox\">\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Name (required)\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Email (required)\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-phone\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Phone:\" value=\"\" type=\"text\" name=\"your-phone\" \/><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-goal\"><select class=\"wpcf7-form-control wpcf7-select\" aria-invalid=\"false\" name=\"your-goal\"><option value=\"Purchase\">Purchase<\/option><option value=\"Refinance\">Refinance<\/option><option value=\"Cash Out\">Cash Out<\/option><option value=\"More Information\">More Information<\/option><\/select><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-message\"><textarea cols=\"40\" rows=\"10\" maxlength=\"2000\" class=\"wpcf7-form-control wpcf7-textarea\" aria-invalid=\"false\" placeholder=\"Your Message:\" name=\"your-message\"><\/textarea><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"referer-page\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text referer-page\" aria-invalid=\"false\" value=\"\" type=\"text\" name=\"referer-page\" \/><\/span><br \/>\n\t\t\n\t\t<\/p>\n\t\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner submit\" type=\"submit\" value=\"Submit Now!\" \/>\n\t\t<\/p>\n\t<\/div>\n\t<div style=\"text-align: justify; color:#666666;font-size: small;\">\n\t\t<p>By clicking \"Submit Now!\", you consent to receive calls and texts at the number you provided, including marketing by autodialer and prerecorded and artificial voice, and email, from Riverbank Finance LLC about your inquiry and other home-related matters, but not as a condition of any purchase; this applies regardless of whether you check, or leave un-checked, any box above. You also agree to our Privacy Policy and Terms of Use regarding the information relating to you. Msg\/data rates may apply. This consent applies even if you are on a corporate, state or national Do Not Call list. This no obligation inquiry does not constitute a mortgage application. To apply now or get immediate assistance, call us at 1-800-555-2098.\n\t\t<\/p>\n\t<\/div>\n<\/div><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"110\"\/><script>\ndocument.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );\n<\/script>\n<\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>One of the main\u00a0home financing options available right now\u00a0is a\u00a0FHA loan.\u00a0 In fact, in 2009 34.5% of all loans were\u00a0FHA\u00a0loans, in 2010 27.7% were FHA loans, and 33%&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[307,1,305],"tags":[],"class_list":["post-100","post","type-post","status-publish","format-standard","hentry","category-fha-mortgage","category-local-michigan","category-refinance-2"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"One of the main home financing options available right now is a FHA loan. 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