Mar 08 2012

FHA re-fi’s Cost Drops

Published by at 6:09 am under General Information

According to the FHA, currently, 3.4 million households with loans endorsed on or before May 31, 2009, pay more than a five percent annual interest rate on their FHA-insured mortgages. By refinancing through the FHA’s streamlined process with the lower insurance costs and lower interest rates, borrowers could save an estimated $250 a month or $3,000 a year. If your loan is current, they waive any new appraisal and credit scoring requirements.

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