Firehouse Mortgage offers professional mortgage brokering services to homebuyers in Houston Texas. We strive to attain the highest level of customer service satisfaction and trust.
The USDA (United States Department of Agriculture) has a mortgage refinance program that is designed for rural homeowners. This type of mortgage appeals to those who already have a USDA loan, have a low to moderate income, and need more affordable payment terms. This lenient option offers home loans upfront and assures these loans by qualified lenders.
Refinancing costs can begin to add up. After closing costs, inspections, and other additional expenses are put in, you may end up spending more money than you intended to save. With the USDA streamlined refinancing option, your costs can be greatly minimalized. Your escrow costs and closing costs can even be wrapped up in your new loan saving on upfront expenses.
What are some of the amazing benefits you can find with the USDA streamlined refinance loan?
What do you need to qualify for a USDA streamlined refinance loan? To begin with, the savings with the refinance must be $50 or more per month. There is more than one type of USDA streamlined loan, so the qualifications for both differ. One of the first is the USDA streamline assist refinance. This option is the more popular option. The other option is the USDA standard streamline.
To qualify for both, the home must be the primary residence and at least one year of living in the home with good standing payments. For the standard option, 180 days of good standing are needed to apply. For the streamline assist option, a credit check and debt to income ratio are not required to be approved but for the standard refinance option, both are factored in. Either can be done directly or through a USDA approved lender.
If you are currently in a USDA approved loan and you are interested in refinancing, then a USDA streamlined refinance loan may be just the option for you. Call one of our qualified loan officers today at Firehouse Mortgage to help get you started.
Firehouse Mortgage offers professional mortgage brokering services to homebuyers in Houston Texas. We strive to attain the highest level of customer service satisfaction and trust.
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Harris County AssistanceBuying your first home? make it your dream home. We’ll work with your budget. From our community to yours, our service to the public has been our commitment. Our integrity, customer service, and professionalism has served our country, our family-values have served our community, let our commitment serve you.
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Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the texas department of savings and mortgage lending, 2601 north lamar, suite 201, austin, texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.Sml.Texas.Gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.Sml.Texas.Gov.
