FHA REFINANCE HELP!? - Where to start?

[Beans007]

Hi All, 

With the help of the forums 3 years ago, i was able to get my credit into decent shape, and was able to buy my first home.  Now three years later, rates are down, and i am hoping i can save money on my monthly payments.  But i just don't know where to start.  My credit did take a hit since buying a home, but i read FHA streamline refinance do not go by credit score?    Here is my situation:

Current rate at 5.25% fixed 30 years (27 to go)  (CHASE)

Purchase Price: $235k

Current Principle:  $220k

Current pymt with taxes etc.:  1,660

Not much money available for closing costs. 

I really don' t know where to start.  Do I go via Quicken Loans?   Are there any good referrals on this site who handle FHA STREAMLINE REFINANCES?

Thank you for the help.

[p-]

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@Beans007 wrote:

Hi All, 

With the help of the forums 3 years ago, i was able to get my credit into decent shape, and was able to buy my first home.  Now three years later, rates are down, and i am hoping i can save money on my monthly payments.  But i just don't know where to start.  My credit did take a hit since buying a home, but i read FHA streamline refinance do not go by credit score?    Here is my situation:

Current rate at 5.25% fixed 30 years (27 to go)  (CHASE)

Purchase Price: $235k

Current Principle:  $220k

Current pymt with taxes etc.:  1,660

Not much money available for closing costs. 

I really don' t know where to start.  Do I go via Quicken Loans?   Are there any good referrals on this site who handle FHA STREAMLINE REFINANCES?

Thank you for the help.

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Ask your current lender.  They should pencil it out for you with no hard pull.

[demi]

I would talk to your lender to see if they will offer something, otherwise a mortgage broker.  I just finished a FHA streamline, went from 5.375 adjustible to 3.5 fixed....lowered payments almost 400 on a $252,000 (remaining)...just finalized yesterday.  I went thru a mortgage broker, and we ended up with Wells, which who is my original lender.  Made things very simple.  I have slipped a little in my credi since purchasing 5 years ago.  Was easy peasy (as someone else said).  Not only was there nothing out of pocket, I ended up with $500.00 refund from my escrow account.  Is fun going into my account and seeing its paid in full....of course not showing the new mortgage yet.