California FHA Streamline Refinance

Many people who have gotten FHA loans in the last few years are now wondering if the California FHA streamline refinance program is right for them. Depending on when you took out your FHA loan, you may be able to do a California FHA streamline refinance and lower your interest rate without having to completely re-qualify for a new loan.

As an additional benefit to the California FHA streamline refinance program, you may also be able to defer one month’s mortgage payment when you participate in the California FHA streamline refinance program.

California FHA Streamline Refinance Qualifications

Many people want to take advantage of the California FHA streamline refinance program just to defer a monthly payment, but FHA won’t allow it unless you meet these three criteria:

  1. You must occupy the property as your primary residence (no investment properties allowed)
  2. You can’t have more than two 30-day late payments on your mortgage in the last 12 months
  3. You can’t participate in the California FHA streamline refinance program unless the benefits outweigh the costs

If you meet these criteria, the next step is to speak with a loan officer who is an expert in the California FHA streamline refinance program who can help you officially qualify for the program and complete the required paperwork. You can get a list of California FHA streamline refinance program experts or you can simply call 888.448.2669.

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