How To Streamline Your FHA Mortgage

Expand the description and view the text of the steps for this how-to video. Check out Howcast for other do-it-yourself videos from CinemaSlam and more videos in the Home Finance category. You can contribute too! Create your own DIY guide at www.howcast.com or produce your own Howcast spots with the Howcast Filmmakers Program at www.howcast.com If your home has an FHA-insured mortgage, learn how to get a lower fixed-rate FHA streamlined refinance loan. To complete this How-To you will need: Current FHA loan documents Your credit score A lender A loan application Escrow statements (optional) Closing statements (optional) Step 1: Find out if you have an FHA mortgage Locate your loan documents and look for a 10-digit FHA case number to find out if have an FHA-insured mortgage. Your current mortgage must be FHA insured to qualify for an FHA streamlined mortgage refinance. Tip: FHA case numbers can also be found on escrow account statements and original mortgage closing statements. Step 2: Contact lender Contact your original FHA mortgage lender and ask if they originate FHA streamlined mortgage refinances. If they don't, contact other lenders. Step 3: Find out your FICO credit score Find out your FICO credit score, a factor in determining if you qualify for an FHA streamlined mortgage refinance. Tip: 720 or higher is an excellent score. 660 to 719 is good. 620 to 659 is average. 619 and below is below average. Step 4: Complete application Choose a lender and fill out an FHA ...



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