Improved Options for California FHA Streamline Refinances for 2012 available now

Improved Options for California FHA Streamline Refinances for 2012 available now

Improved Options for California FHA Streamline Refinances are here.  The Whitehouse authorized changes to the FHA Streamline Refinance Program  are now available.    These FHA Streamline Fee reductions will help many California Homeowners with FHA Loans made prior to June 1, 2009 save hundreds per month.

The options for FHA Streamlines for California Homeowners have been prohibitive the past couple years due to increased FHA Mortgage Insurance rates.   The new FHA Streamline Changes reduce fees for FHA Streamline Borrowers.  The new program will reduce the Upfront Mortgage Insurance Premium (UFMIP) to .01% (that is less than $75 on a typical FHA Loan).   But there is more to report:  the annual Mortgage Insurance Premium is being reduced to .55% for FHA Streamlines and FHA Jumbo Streamlines from a previous level of 1.25%.  This will result in Huge Savings for homeowners that take advantage of a FHA Streamline Refinance.

FHA Jumbo Loan amounts (those over $417,001)  are fully eligible for the reduced .55% MIP rate and negligible UFMIP rate of .01% ($72.79 on a $729,750 FHA Jumbo Loan amount).

These changes to FHA Streamline and FHA Jumbo Streamline rules will open the door for Homeowners with FHA Loans in California  to save hundreds per month in most cases.

Call us for a free quote to see how much you can save.  866-900-2342 toll free.

VanDyk Mortgage is a Full Eagle Direct Endorsement FHA Lender,  the highest level of approval from HUD.   We have been making FHA Loans since 1987, and would be proud to help you as well. We service all of California and Washington State, including San Diego, California, San Jose, Sacramento, Riverside, San Francisco, Oakland, Ventura, Orange County, Seattle, Spokane, Tacoma, Everett, and every other city within these great states.

Call today to get started  866-900-2342  – Toll Free direct.   Or apply securely online 24/7 –www.vandykfunding.com/loanapplication