Special Rates for FHA and VA Streamline Refinances

In this week's 5-Point-5, we'll learn about a super-easy streamline refinance for your FHA or VA loan.

1st point: Special lower rates - For a limited time, we can offer special rates that are roughly half a percent lower than market rates. If you closed your current mortgage in the last 18 months, there's a good chance you'll save money.

2nd point: Your income doesn't matter - With a streamline refinance, we don't ask for your paystubs; we don't need your bank statements. If you've been making your mortgage payments on time, we assume you'll continue to do so after we lower your monthly payment.

3rd point: No appraisal - You home's current value doesn't matter because FHA or VA already accepted your property, so we can lower your rate without a new appraisal.

4th point: Fast closings - Because we don't have to wait for an appraisal, closings happen very quickly, usually within 20 days.

Last point: Low closing costs - Streamline refinances have much lower closing costs. And with a VA refinance (also called an IRRRL), you can include the closing costs in the new loan, meaning you could come to closing owing nothing.