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New FHA Streamline Refinance Loan Amount

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darrell
New Contributor

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

 

Message 1 of 3
2 REPLIES 2
webhopper
Moderator Emeritus

Re: New FHA Streamline Refinance Loan Amount


@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.

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 2 of 3
llecs
Moderator Emeritus

Re: New FHA Streamline Refinance Loan Amount

Message 3 of 3
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