Wisconsin, Illinois, Minnesota and Florida Mortgage Bankers

If you have an FHA Mortgage and live in Wisconsin or Illinois, give me a call. Rates are at an all time low.

If you currently have an FHA Mortgage, you can “Streamline Refinance” your current mortgage.

What exactly does “Streamline Refinance” mean?

In most cases there is no appraisal required, no income or asset information listed on your application. A 12 month payment history from your current lender is required. While your current credit situation does not matter in doing a “Streamline Refinance” you should not have any 30 day late payments on your current mortgage in the last 12 months. You must be able to supply the lender with a copy of your current NOTE and HUD from your last mortgage settlement.

The following is basic FHA streamline refinance guidelines:

Your FHA mortgage must be FHA insured
Your FHA mortgage must be current
You must have owned your home for at least 12 months
You must be currently employed (income is not checked or documented)

FHA Streamline Refinance Example:
Your Current Loan Amount: $305,000
Your Current Interest Rate: 6.5%
Your Current Payment: (Principle & Interest) $1927.00
New Loan Amount: $305,000
New Interest Rate: 5.5%
New Payment: (Principle & Interest) $1731.00
Your Savings per Month: $196.00
For a Total Savings per Year: $2352.00

Visit our FHA Streamline Refinance page for additional details.

Your local Wisconsin and Illinois FHA Mortgage Banker:

Dennis Hardy
Toll Free: (877) 240-5810 x104
dennis.hardy@www.madisonmortgageguys.com
www.madisonmortgageguys.com

Visit my blog at http://www.madisonmortgageguys.com/blog/

FHA blog posts:

http://www.madisonmortgageguys.com/blog/content/illinois-no-money-down-first-time-home-buyer-loans-fha-va-and-rural-housing/

http://www.madisonmortgageguys.com/blog/content/fha-streamline-refinance-in-illinois-and-wisconsin-including-chicago-milwaukee-and-madison/

http://www.madisonmortgageguys.com/blog/content/germantown-mequon-sussex-muskego-milwaukee-wisconsin-mortgage-broker-first-time-home-buyer-va-fha-refinance-no-money-down/

http://www.madisonmortgageguys.com/blog/content/fha-loans-in-illinois-and-wisconsin-including-chicago-fha-milwaukee-and-madison/

http://www.madisonmortgageguys.com/blog/content/fha-condo-spot-loan-approval-in-illinois-and-wisconsin-chicago-milwaukee-madison/

http://www.madisonmortgageguys.com/government_loans/fha_wisconsin/index.htm

http://www.madisonmortgageguys.com/government_loans/fha_streamline_refinance/index.htm