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I have a 30 year FHA loan for 185000 at 5.5%.

I have made regular on time payments for just over a year now at about 1150 a month. Is now a good time to refinance? is it too soon? what should I consider? by jenny928 from Los Angeles, California. Nov 16th 2010 Reply


Joseph Hendizadeh (josephh)
#342 ranked lender in California - 29 contributions

Jenny, many people who have FHA loans are currently taking advantage of the lower rates out there, with the FHA stream line loan. With the FHA streamline loan, there are many advantages such as being able to lower the interest rate, which will in turn save you money every month. One of the benefits of doing a Streamline with FHA is the fact that you are not required to do an appraisal. AT First Wholesale Lending, we specialize in FHA loans, feel free to give us a call at 877-834-3340 for more information and we will be glad to provide you with an analysis of what your saving can be with OUR no cost FHA STREAMLINE REFINANCES. The rate as of today will be anywhere from 4.375%-4.5% depending on your credit. Ask for Mike or Joseph we are local In Los Angeles where we can meet, as well and very familiar with this area. 877-834-3340 or 818-345-0780

Nov 16th 2010
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Andrew Vierra (Andrew Vierra)
#118 ranked lender in California - 12 contributions

One of the benefits of an FHA loan is that you can refinance to a lower rate without an appraisal and minimal paperwork. A couple of stipulations: 1. You have to have made at least 6 payments on your current FHA loan; 2. Your new payment, including principle/interest/insurance/taxes/mortgage insurance must save you at least 5% over your current payment (all items included).The new monthly mortgage insurance is slightly higher than what you're currently paying (it was raised on 10/4 this year), so the best way to know whether you're eligible is for you lender to have all the numbers (purchase price, monthly insurance, etc) to run the calculations.If it's determined that you can save the necessary 5%, then you could refinance without closing costs pretty easily.Not sure where you're located, but if you're anywhere in California, I could help get this done for you. Click on my picture for all my info, and/or call: 916-932-7160.Happy Thanksgiving.

Nov 16th 2010
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Wes Hankins (Wes Hankins)
#117 ranked lender in California - 12 contributions

Hi Jenny, yes we can do a not cost Streamline refinance, drop your rate at lease 1%.Its a pretty simple process.Call me 951-208-6933president of Vault FinancialWes HankinsMurrieta CA

Nov 16th 2010
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Wes Hankins (Wes Hankins)
#117 ranked lender in California - 12 contributions

Sorry for the typo on there... we can drop you to a 4.5% not charge you any fees.

Nov 16th 2010
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Andrew Vierra (Andrew Vierra)
#118 ranked lender in California - 12 contributions

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Nov 16th 2010
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