FHA Streamline The Loan Process

An overview of the Streamline process

Make no mistake, there's a lot involved in getting a mortgage loan. You're here on our website because you need honest and professional help. We're here for you! What we do is most of the heavy lifting for you, so you can concentrate on what's important -- Taking care of the rest of life.

There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.

Step one: determine how much you'll save.

This is a function of a couple things. How long have you owned your home? How long do you plan to keep it? And given your unique credit and employment history, income and debt, and goals, what is right for you? Some arts are easy and you can get a rough idea idea by using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Based on streamline guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: The application

This is where the rubber meets the road. We will need several items from you. Remember the FHA Streamline Refinance is not based on your paystubs, W2's, and bank statements. It's based on your savings. We need to document that you do in fact have and FHA loan, as well as your monthly savings. In order to do this, we use your...

A. NOTE: This is the basic loan agreement from your last loan. It should be in your closing package. It will say "NOTE" across the top in large bold print.It will be between 2 and 3 pages. Make sure to include all of them.

B. Settlement Statement: This is also in your closing package. You may remember this form, you would have had to sign it multiple times. It's usually 2 pages. It's the page with all the numbered lines full of closing costs, taxes, recording fees, etc.

C. Social Security card

D. Drivers license

E. Current Lenders name, your loan number, and their phone number

F Your homeowners insurance agent's name, their phone number, and your policy number.

That's IT, no tax returns from 2 years ago, no paystubs, no 401k statements.

You supply information about your employment, your residence history, and so on. We get your permission to run your credit score. When we review all this information we have you sign (or e-sign) a complete application. Handle it with care. we're busy finding the loan that's right for you.

Step three: We make it easy

Once you've given us the appilcation and it's been accepted, it's time to submit it to one of our lenders. It couldn't be easier, we handle all of it for you. right here at our website. When the time is right, we'll have it done in under a week.

Step four: your loan is funded

Your Streamline agent will work to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office, sometimes they'll even travel to you.

You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans -- so we do most of the work. Doesn't that make sense?

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