FHA customers with ARMS or a rate higher than 6.25%  
There have been many exciting changes to the FHA program in the past year. If you are currently in an FHA ARM or a fixed rate at 6.25% or higher, contact me right away to see if your situation can be improved with a refinance. Rates and program guidelines are constantly changing and you don’t want to pass up the chance to lower your rate with no closing costs and/or convert your ARM into a fixed rate.  There are many advantages I can offer you when we work together on the FHA streamline refinance process. 

1. It’s fast and easy and can have low or even no closing costs… I’ll run all scenarios so you may determine what makes the most sense for your situation.  Even a .25% drop can save you almost $15,000 over the life of the loan.
2. You can borrow up to 97% of the value of your home.  This may be possible without an appraisal.  This can be essential to getting you a loan if you are in a tough real estate market where values have declined.
3. Credit scores can be as low as 500 (this will change as several lenders are requiring at least a 550 score) and with streamlines we won’t need a credit report.  We will require a clean 12 month mortgage history.
4. I can help you with your FHA streamline refinance no matter what U.S. state your property is in. <Rules vary slightly from state to state>

FHA programs are perfect for credit challenged purchasers, people currently in a Ch. 13 bankruptcy and anyone needing cash out up to limits of 95%. Higher loan limits are coming very very soon so please consult me so I can get you the most up to date advice.  Again this could be a lifesaver when you have a high rate adjustable mortgage that you wish to close.  Refinance out of that to one fixed rate lower payment government insured loan.---Brent Mendelson, fha mortgage lender
fha interest rates Virginia