Government Streamline Loans
The United States boasts several government streamline loans that can assist homeowners in refinancing their current government-backed mortgages into loans with lower rates or shorter terms. These streamlined government loans can help avoid the hassles and costs of a typical mortgage.
VA Interest Rate Reduction Loan
This program helps veterans reduce the interest rate on their current VA loan. This loan has many benefits, including:
- No appraisal is required in many cases
- Reduced documentation requirements
- Low rates and reduced monthly mortgage insurance costs
- Expedited closing Process
FHA Government Streamline Loan
Additionally the FHA streamline loan helps borrowers reduce the interest rate on their current FHA mortgage. The benefits to this program include:
- No appraisal or reduced cost appraisal in most circumstances
- Minimal documentation requirements
- Great rates and reduced monthly mortgage insurance costs
- Quick closings — usually in as little as 2-3 weeks
USDA Streamline Mortgage
The USDA government streamline loan helps borrowers refinance their current USDA loan by lowering their interest rate. Additional benefits of this program include:
- Expedited Closings
- No appraisal requirement in most instances
- Reduced documentation required from the borrower
- Great interest rates
- Lower closing costs
To learn more about refinancing a conforming loan, Contact Us or give us a call today at (843) 606-6058 or toll-free at (855) 406-0197.