just letting everyone know that there is a new way to refi your home that may save some of us a lot of money.
I did an FHA home loan and they now have a "stream line refi" which requires little to no documentation and you can refi at todays rates. I am not sure how many other loans you can do this with. that would be a question for a professional (which I am not).
the rate I heard was 4.7%
my guy is going to do me a cashless refi and save me about $160 monthly. I currently have a loan at 6.5% to give you an idea.
this is a pretty good opportunity to save some money in todays economy.
I am just passing it on for what it's worth. I am not recommending any particular company or person, just saying that now is the time to try even if you owe 95%+ on your home. I am not sure what the limit on that percentage is but it is worth looking into.
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