3. See the financing options that are available for your mortgage needs!
1. Complete the online quote form
The quote request process is simple!
Borrowers can refinance in order to lower a interest rates on their current qualified Maryland mortgage.
Maryland Streamline refinance mortgage allows borrowers to refinance with reduced requirements.
Conventional Mortgage FHA Mortgage VA Mortgage
Streamline refinance mortgage allows current mortgages holder of certain loans such as FHA, VA and some conventional Maryland mortgages to refinance with reduce paper work, documents and cost.
Not all loans can be refinanced using a streamlined process. FHA and VA (veterans) loans do have a streamline available. However, Conventional mortgages base the streamline availability largely on the current mortgage holder and servicer. Availability varies and a loan officer can review your current loan to see if the option is available for your specific loan.
Common documents needed when streamline refinancing.
Current loan information. Most recent pay stubs to verify income and employment. Copy of homeowners insurance - if you use a specific agent you should have their contact information available for the lender. Any homeowners and condo association information.
Tip* - You may be able to save money if you find your original title insurance and present it to the new mortgage company. Sometimes, it is possible to get a ' re-issue rate' on the policy and not have to have a new policy written.
Common loan types
The reality about streamline refinancing is that in many situations it may be best to contact your Maryland mortgage lender. They may be able to reduce your current rate with just a fee of one month’s interest payment. This fee maybe minimal compared to the closing costs of a Maryland refinance mortgage. Often, if there has been late payments, the lender will not allow a streamline refinance to be done on the current loan. It is critical to make all payments , even up to the date of the closing of the streamline refinance.