Alright, so here is some information about your rate reduction refinance loans. We call them no cash out refi’s and right now a lot of us have been able to lower our home payments. Some of us significantly. If you are not needing money to pay off high interest debts, and you’re going to live in your home for the foreseeable future you may want to refinance now. Again, rates are at a decade’s low single digit and they’ve been there for a while.
There’s streamlined programs for the following
- Veterans called an IRRRL
- FHA as an FHA Streamline
This simply means there is a process where you do not have to provide much as long as you have an excellent payment history. There’s even an non-credit qualifying IRRRL where we only have to run your credit to look at your debts. Credit score is not a factor. And, if you are a business or entity, you may be able to qualify with a P&L statement. If you have had a downturn due to 2020 and can show an increase you may be qualified. So, if you want more information text me your questions. I know you are not going to read much more. We have a lot of programs as a mortgage brokerage.
