If you have an FHA loan around 5% or more and you got the loan before May 2009, you should DEFINITELY look into refinancing.
Here are a few things you should know…
- You need to be current on your mortgage
- You can have only 1 late pay in the last 12 months over 30 days late
- No verification of employement is needed
- No verification of income is needed
- No verification of credit score is needed
- An appraisal may not be necessary
Current FHA rates are ~3.5% and could save you hundreds of dollars per month.
If you think this might fit your situation, please contact me today and I will get you in touch with one of my outstanding mortgage bankers.