I purchased a condo a few years ago with an FHA loan but FHA approval has expired. If the project is re-approved, can I still get a streamline FHA refinance after? by KAngle_949_438 from West Chester, Pennsylvania. Oct 1st 2012
Yes... some lenders will do the streamline even if the condo project has been expired, however if the project has expired, then you as an owner should push them to get re approved, since no new purchases can take place using FHA or VA financing if it is not.. And if you limit the market you property can be sold to, then it will effectively lower your values.. 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. 480-287-5714 WilliamAcres.com
Current Condo approval IS NOT REQUIRED on an FHA Streamline refinance.
Yes you can streamline your FHA loan even if the project has not been renewed for new FHA loans. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950
yes you can. I am in West Chester as well and would like to speak with you about it. You can reach me at 610-344-9988. Thanks!Nick F.
As you see from other responses, most lenders should be able to refinance you with a FHA streamline without project approval or even an appraisal. They will review to make sure the property has required insurance coverage (both your insurance and the owners association). Plus, on a FHA streamline of a loan prior to June 1, 2009 you won't have to pay the new higher FHA insurance (PMI). It's a great time to refi. If you need a referral to a lender in PA please contact me: pdumouchel@primelending.com - Good luck!
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