If you have an FHA loan that originated before June 2009, you may qualify for a streamline FHA refinance. This means that you can refinance your current FHA loan with a very simple process. Unlike the standard refinance or loan application process, the Streamline FHA makes it easier. If you are currently over 4.5%, a new FHA program could save you THOUSANDS!

 •Better loan terms

 •You do NOT need an appraisal on your home, even if you are upside down

 •You do NOT need to verify your income or employment

 •Your credit score will NOT be pulled

This program is easy to apply for and you can find out within minutes if you may apply for the FHA Streamline Loan. Take advantage of the lower interest rates and all of what this FHA program has offer. Contact us for an FHA Streamline Refinance today!

You may refinance your home loan with an FHA loan if you don't currently have an existing FHA loan. Refinancing options include fixed, adjustable (ARM) and buy-down mortgage rates, although most buyers have a fixed-rate FHA loan. Refinancing with an FHA loan is allowable even if you're late on your current mortgage or facing foreclosure. FHA loan applicants find that FHA loans do not have as strict of income guidelines nor credit history as conventional loans. FHA loans offer competitive rates for those in foreclosure or bankruptcy. There are also options for loan consolidation with FHA loans.

FHA loan requirements are more flexible than conventional loans and provide the easiest application. Below are the requirements for FHA loans:

 •Need two years of consistent employment - preferred by the same employer.

 •Income over the past two years is the same, or increasing.

 •Credit guidelines vary; please ask Cardinal Financial for details.

 •Bankruptcies must be 2 years old; good credit since the bankruptcy

 •Foreclosures must be 3 years old; good credit since the foreclosure.

 •Mortgage payment of your new home must be around 30% of your gross income.