FHA Loans

STREAMLINE YOUR FHA MORTGAGE

FHA has permitted streamline refinances on insured mortgages since the early 1980's. The "streamline" refers only to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction. The basic requirements of a streamline refinance are:

• The mortgage to be refinanced must already be FHA insured.


• The mortgage to be refinanced should be current (not delinquent).


• The refinance is to result in a lowering of the borrower's monthly principal and interest payments.


• The refinance is to result in a lowering of the borrower's monthly principal and interest payments.


• No cash may be taken out on mortgages refinanced using the streamline refinance process.

Liberty Funding offers a "no cost" refinance - which means, we the lender pay any and all closing costs that are incurred on the transaction.

As a reminder - this program is completely at no cost to you the homeowner. Through the FHA we find a lower rate for you with the same terms of your original mortgage and pass the savings on to you!

In order to take advantage of the FREE, no-cost federally sponsored Program - Please forward copies of the documents listed below to our offices:

• Copy of your Mortgage Note


• Copy of your HUD1 Settlement Statement


• Copy of your Homeowners Insurance Declarations Page


• Copy of current Mortgage Statement


• Patriot Act information - PROOF OF SS Number (Card, Pay stub or W-2)

WHO SHOULD GET AN FHA MORTGAGE LOAN?

FHA mortgages are intended for individuals with low to moderate income or first time buyers.
Due to the recent collapse of the sub-prime mortgage market there has been a dramatic rise in borrowers looking for the security and reliability of the FHA program.

FHA loans consist of low down payments, low closing costs, and easy credit qualifications. The FHA program is ideal for people buying there first homes because they are usually too young to have built an attractive credit report. Because of FHA's lenient credit requirements, even people with no credit can get financing.

FHA loans are ideal for people who:
Have credit problems that prevent him from getting prime market mortgages.
Want to put only a small down payment (3%) towards their purchase.

FHA REFINANCING

Are you having trouble making your monthly mortgage payments?

Save your house today.

An FHA Refinance is the best option for those with sub-prime or adjustable rate mortgages. Don't be a part of the sub-prime market collapse. Refinance with FHA.

At Liberty Funding there are two types of FHA refinancing: Streamline and Regular
An FHA streamline refinance is used for borrowers who are currently in an FHA loan. The streamline process is used to reduce the principal or interest payments or to change to a fixed or adjustable rate mortgage with absolutely no closing or additional costs to the borrower. Within 20 days, Liberty Funding can take your already existing FHA mortgage and substantially reduce your interest rates and monthly payments so you can use the extra cash to pay off other existing debts, save money during the holidays, or just put extra cash in your pocket.

To qualify for an FHA refinancing you only need to be:
Currently in an FHA loan
Current as of your last payment.

Streamline refinancing is simple, easy and will cost you nothing!

An FHA regular refinance can be used to pay off an existing mortgage, whether conventional, VA or FHA. It can also be used as a "cash-out" refinance by borrowing against the equity in your home. That cash can then be used to pay off existing debts

Lets refinance you today! Contact immediately to save on your next months mortgage payment.

* Fannie Mae provides a list of resources that are helpful when applying for a refinance loan.
* Forbes.com offers a Mortgage Refinancing application However, be sure to verify that you are dealing with qualified professionals.
* CNN - Money provides a calculator to help you determine how much money you could save by refinancing.
* Car Lender.com provides information about refinancing your auto loan.