Price Cuts Announced for FHA Streamline Refinancing

By
Mortgage and Lending with 214-728-0449 http://TexasLoanGuy.com NMLS # 322646

Price Cuts Announced for FHA Streamline Refinancing
See If You Can Benefit

Back on March 6, 2012, FHA announced a decrease to the Upfront and Annual Mortgage Insurance Premiums on certain streamline refinance transactions. This will make the prospect of an FHA refinance much more attractive, as homeowners will no longer be subject to the higher premiums in place today. FHA estimates that, as a result of this decrease, some borrowers may be able to save as much as $3,000 a year. 

There are two important dates to keep in mind: 

  1. This initiative applies to FHA borrowers who secured a loan on or before May 31, 2009
  2. This initiative is effective for loans that will be originated on or after June 11, 2012

This is an incredible opportunity that can provide significant savings. Give me a call or send me an email if you would like some more information or to see if you can benefit. I'm always happy to answer any questions you may have!

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Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice.  If you are available to talk, I am available to listen.  Give me a call or visit my website for more details.

Do you want to know all of your mortgage options? Call me today and let's discuss them further.

Texas Home Loan Consultant

Always available for your Texas Mortgage and Home Loan needs!

John R Cannata    P#214.728.0449

NMLS # 322646

Texas Home Loan Expert

Frisco TX Mortgage

      

 

The views expressed on this site are mine alone and do not reflect the views of my employer.

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Show All Comments
Rainmaker
659,962
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Hi John, great FHA incentives for the borrowers, hopefully buyers are calling you to apply for this refinancing program.

Apr 02, 2012 07:57 AM #1
Rainmaker
526,158
Shirley Parks
Sands Realty 210-414-0966 - San Antonio, TX
Broker, 210-414-0966, San Antonio TX Homes

Great information, John.  $3,000 a year is a big savings.  Have a great week.

Apr 02, 2012 08:49 AM #2
Rainmaker
398,596
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Eileen - Hopefully we will get a few more FHA refinances due to this change. Many of my past clients could not take advantage because even though the rate was much lower, the MIP was much higher and pretty much offset the savings in interest. It only looked good over a long term, which many clients did not want to see (and understandably so).

Shirley - It really is a great savings. Rates were in the mid 5s and higher, prior to June 2009.

Apr 02, 2012 09:48 AM #3
Ambassador
1,197,255
Paul Henderson
RE/MAX Professionals. - Tacoma, WA
I always put my clients first in any transaction!

I have written more FHA transactions in the last six months that I have in the previous 11 years... 

Apr 02, 2012 10:21 AM #4
Rainmaker
398,596
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Paul - The fees are higher, but its still the best product for many buyers due to the down payment needed, plus the 203K option, and many FTHBs find that their Debt-to-income is too high to qualify for any other products.

Apr 02, 2012 10:28 AM #5
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Rainmaker
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John Cannata

Texas Home Mortgage - Purchase or Refinance
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