are refi rates good for fha streamline i have 711 credit, husband has 670

Rates are near a 30 year low, so yes.. now is a good time to refinance. I would suggest you contact a local mortgage broker and let him look at your complete loan scenario. With 22% equity and an FHA loan that was initiated 5 years ago or more, it's possible you can get the MI dropped, and that could net you a lower payment than by refinancing. Also, if your loan was done prior to June 2009, FHA allows for reduced MI and upfront MI options, so that could be beneficial as well.. Then there's the conventional option.. with conventional financing, the rate would be slightly higher, but with 20% or more equity, there is no mortgage insurance required.. Not the case with FHA which requires MI regardless of your loan to value. In regards to credit scores.. Lenders price loans based on the LOWEST MID SCORE OF ALL BORROWERS.. your 711 score is reduced to loan pricing based on a 670 score. With conventional, its beneficial to have higher scores, but with FHA, there's little difference. With all these variances, you can see why it's difficult to answer your question. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see the complete picture, they can advise you to the right loan product. By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com ,

Enter your answer here

Yes either 670 or 711 will work for a refi. There is some reasons to refi with a Fha streamline and other reasons to do conventional refi. Call me to discuss or visit my web site and apply online , I will call you back instantly. At Caliber we can make the process easy with as little needed in documentation as a w2 and paystub a refinance can be done. We don't sell your loan and we are not a broker. We are a very large lender owned by a Multi Billion dollar Private Equity firm. Deal directly with a Lender and save on costs and rate, and close with simple document requirements. Go Gators !

Refi rates for FHA Streamline are the same for most credit scores above 600 for FHA. Unlike Conventional loans, you don't get a better rate based on your score being over "X" level. If you are at 80% LTV or below, the only reason you would want to do a Streamline is 1) You are underwater because FHA Streamline does not require an appraisal, or 2) You need the underwriting benefits of reduced/flexible income documentation. If you have an FHA loan that was endorsed before 5/31/2009 you do receive the added benefit of a grandfathered FHA MIP premium, which is very nice as well. Otherwise, look into a Conventional loan.

If you are at 80% then I would NOT suggest a FHA streamline...I would look at restructuring into a conventional loan which will drop the costly mortgage insurance premium (MIP) that FHA loans have. I'd be happy to evaluate your situation at no cost to you and figure out if it makes sense to restructure your loan today or not. Feel free to give me a call. 727-488-7355

Rates are at their lowest in nearly 16 months so your timing is great! Depending when you closed on the current mortgage either FHA streamline OR a regular conventional mortgage might be a better option. FHA has better rates but with a conventional loan you would not have any monthly PMI - so your overall payment would likely be lower. I can help: pdumouchel@primelending.com or 843-619-6025 http://pdumouchel.primelending.com **PrimeLending was #4 purchase mortgage lender in the US in 2012 and 2013 as determined by MarketTrac(c) for Jan-Dec 2012 & 2013

Rates are once again really low. Everyone should be talking to a local mortgage broker to check their options. If you believe you are 80% loan-to-value or better, you want to also look at a conventional loan. It may be a better option than an FHA streamline because there would be NO mortgage insurance. Lending in MN, WI, and SD. www.MortgagesUnlimited.biz

William is correct there are scenarios you need to aware of to make a informed decision. The removal of the MI will be a cost savings. I can be reached toll free 800-485-1387 Ext. 116 or email ballen@bankofengland1.com

If you have that much equity you should look at doing a conventional refinance instead of an FHA streamline. If you qualify you will save by not having to pay mortgage insurance. Get in touch with a local loan officer and have them present you with all of your options so you can choose the best loan for your needs. Best wishes, Sean

Conventional would be the way to go. Mortgage ins is required on all FHA loans. I have rates in the low 4s right now. Make sure you check rates with different lenders. Thomasdasta@live.com.