FHA Home Loans

No Longer Required to Close at the End of the Month

Up until January 2015, there was a little-known FHA rule stating you had to close your FHA refinance at the end of the month, or pay a double-interest penalty. That is no longer the case.

The FHA streamline refinance mid-month closing penalty has been eliminated. Applicants can close any day of the month. This will reduce the month-end bottleneck at FHA lenders, making your closing process easier.

Rates just dropped! Message us today to find out if a Streamline Refinance can save you THOUSANDS on your mortgage!

FHA Streamline *Reduced* Document Checklist

- Copy of the mortgage note from your current FHA loan (this shows your current interest rate and whether the loan is an ARM or a fixed rate).
- Copy of a current mortgage statement.
- Contact name and number of your employer’s HR department (most lenders need to verify you are currently working, even if they don’t verify your actual income).
- Two months of bank statements including all pages (even blank pages). The statements must show that you have enough money to pay any out of pocket costs associated with the loan.
- Homeowner’s insurance agent contact information. Your lender will need to obtain proof of current insurance on the home.
- Copy of your Drivers License