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FHA Streamline

If you have an existing FHA-insured mortgage loan and would like to lower your interest rate and reduce your monthly payment, then you should consider an FHA Streamline Refinance from A&D Mortgage. As the name suggests, an FHA Streamline is a relatively speedy and simplified process. No income and appraisal documentation are required as part of the application process.

At A&D Mortgage, we are experienced in these kinds of FHA transactions and we’ll guide you through the entire loan process.

Program highlights:

  • No appraisal and no income documentation are required
  • You must have made at least six payments on your FHA mortgage
  • To qualify, you’re required to be current on your monthly loan payments

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Other Programs

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FHA

- Financing up to 96.5%
- DTI up to 55%
- No appraisal is needed to apply for the streamline refinance FHA program
- Up to 6% of closing costs can be contributed by the seller

FHA High Balance

- Loan amounts up to $765,000 depending on home location
- Available on primary residence and second/vacation homes
- Condo financing available

Freddie Mac Refi Possible

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Fannie Mae Refi Now

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements