Forgotten Your Password?

Need to Register?

Question Icon

Can I do a streamline refinance on an FHA condo if approval expires and is restored?

I purchased a condo a few years ago with an FHA loan but FHA approval has expired. If the project is re-approved, can I still get a streamline FHA refinance after? by KAngle_949_438 from West Chester, Pennsylvania. Oct 1st 2012 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

Yes... some lenders will do the streamline even if the condo project has been expired, however if the project has expired, then you as an owner should push them to get re approved, since no new purchases can take place using FHA or VA financing if it is not.. And if you limit the market you property can be sold to, then it will effectively lower your values.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Oct 1st 2012
1
0
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,930 contributions

Current Condo approval IS NOT REQUIRED on an FHA Streamline refinance.

Oct 1st 2012
1
0
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

Yes you can streamline your FHA loan even if the project has not been renewed for new FHA loans. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Oct 1st 2012
1
0
Nick Fratini (nfratini)
#5 ranked lender in Pennsylvania - 15 contributions

yes you can. I am in West Chester as well and would like to speak with you about it. You can reach me at 610-344-9988. Thanks!Nick F.

Oct 1st 2012
0
0
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

As you see from other responses, most lenders should be able to refinance you with a FHA streamline without project approval or even an appraisal. They will review to make sure the property has required insurance coverage (both your insurance and the owners association). Plus, on a FHA streamline of a loan prior to June 1, 2009 you won't have to pay the new higher FHA insurance (PMI). It's a great time to refi. If you need a referral to a lender in PA please contact me: pdumouchel@primelending.com - Good luck!

Oct 1st 2012
0
0
Jeremy Redlinger (JeremyR)
#30 ranked lender in Minnesota - 191 contributions

You sure can.

Oct 1st 2012
0
0
Jeff Cost (midwestlender)
#40 ranked lender in Ohio - 164 contributions

You can do it now. You do not need to waite. I just completed one of these transactions. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

Oct 2nd 2012
0
0
Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

Yes. Let us know if we can be of help to you. We would love to save you money! Team@BestMortgageOption.com

Oct 2nd 2012
0
0
Subscribe to our news feed.