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Posts: 55
Registered: ‎12-09-2007
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New FHA Streamline Refinance Loan Amount

Hello, how do I calculate my new loan amount if I refinance existing FHA loan via FHA Streamline Refiance.

Remaining balance: $148.5k
Bought on : Aug 2008


However, is calculating my new loan amount to $154.2k. I am not understanding why? I am choosing no-appraisal option. 

I calculate my new loan amount to be $148.5k plus upfront mortgage insurance premium. That comes out to $148514.85
 
Thanks
Any help

 

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Posts: 7,225
Registered: ‎09-16-2011
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Re: New FHA Streamline Refinance Loan Amount

[ Edited ]

darrell wrote:
Hello, how do I calculate my new loan amount if I refinance existing FHA loan via FHA Streamline Refiance.

Remaining balance: $148.5k
Bought on : Aug 2008


However, is calculating my new loan amount to $154.2k. I am not understanding why? I am choosing no-appraisal option. 

I calculate my new loan amount to be $148.5k plus upfront mortgage insurance premium. That comes out to $148514.85
 
Thanks
Any help

 


 

edit: I posted my comment in your original thread.


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Posts: 32,869
Registered: ‎08-04-2007
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Re: New FHA Streamline Refinance Loan Amount

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