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Freddie Mac: Streamline Refinancing to End April 30
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You're Now Reading:
Freddie Mac: Streamline Refinancing to End April 30
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Freddie Mac: Streamline Refinancing to End April 30
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January 20, 2011 (Jeff Alan)
mortgages-freddie-mac-image
Government mortgage giant Freddie Mac has announced that is will eliminate its streamlined mortgage refinancing option this spring, but borrowers will still have a simplified option for refinancing mortgages held or backed by the government-supported enterprise. The streamline refinance option will be discontinued as of April 30, however, another option, the newer Relief Refinance– Same Servicer, will continue to offer borrowers most of the same benefits.

Both the streamline refinance and Relief Refinance– Same Servicer options allow homeowners with a Freddie Mac mortgage to refinance without providing proof of income or employment. A big plus for homeowners who have seen their incomes decline and want to refinance at a lower interest rate.

Homeowners may still need to need to obtain an appraisal, although that is not specifically required under the Relief Finance– Same Servicer and the streamline refinance, but both programs require the seller of the new loan to verify that the property has maintained its value since the original appraisal which would eliminate homeowners whose property values are less than what they owe.

FHA and VA streamline-type mortgages do not require a new appraisal, allowing homeowners to refinance their mortgages despite declines in property values that have left them owing more than the property is worth.

Besides the advantage of not having to prove income or employment, the Relief Refinance– Same Servicer option does allow refinancing of mortgages at up to 125 percent of a home’s current value, providing a refinance option for underwater homeowners, although an appraisal is still required.

Freddie Mac also offers a Relief Refinance – Open Access option that allows a homeowner to refinance through any lender, although that route does require fully qualifying the new loan and after May 1, all other Freddie Mac mortgage programs except the Relief Refinance – Same Servicer option will require verification of funds.

Tags: freddie mac, mortgage refinancing, streamline finance, relief finance, homeowners, lower interest rate, underwater homes, mortgage servicers

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It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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LOANRATEUPDATE
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Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
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Rates

January 20, 2011 (Jeff Alan)
mortgages-freddie-mac-image
Government mortgage giant Freddie Mac has announced that is will eliminate its streamlined mortgage refinancing option this spring, but borrowers will still have a simplified option for refinancing mortgages held or backed by the government-supported enterprise. The streamline refinance option will be discontinued as of April 30, however, another option, the newer Relief Refinance– Same Servicer, will continue to offer borrowers most of the same benefits.

Both the streamline refinance and Relief Refinance– Same Servicer options allow homeowners with a Freddie Mac mortgage to refinance without providing proof of income or employment. A big plus for homeowners who have seen their incomes decline and want to refinance at a lower interest rate.

Homeowners may still need to need to obtain an appraisal, although that is not specifically required under the Relief Finance– Same Servicer and the streamline refinance, but both programs require the seller of the new loan to verify that the property has maintained its value since the original appraisal which would eliminate homeowners whose property values are less than what they owe.

FHA and VA streamline-type mortgages do not require a new appraisal, allowing homeowners to refinance their mortgages despite declines in property values that have left them owing more than the property is worth.

Besides the advantage of not having to prove income or employment, the Relief Refinance– Same Servicer option does allow refinancing of mortgages at up to 125 percent of a home’s current value, providing a refinance option for underwater homeowners, although an appraisal is still required.

Freddie Mac also offers a Relief Refinance – Open Access option that allows a homeowner to refinance through any lender, although that route does require fully qualifying the new loan and after May 1, all other Freddie Mac mortgage programs except the Relief Refinance – Same Servicer option will require verification of funds.

Tags: freddie mac, mortgage refinancing, streamline finance, relief finance, homeowners, lower interest rate, underwater homes, mortgage servicers

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

January 20, 2011 (Jeff Alan)
mortgages-freddie-mac-image
Government mortgage giant Freddie Mac has announced that is will eliminate its streamlined mortgage refinancing option this spring, but borrowers will still have a simplified option for refinancing mortgages held or backed by the government-supported enterprise. The streamline refinance option will be discontinued as of April 30, however, another option, the newer Relief Refinance– Same Servicer, will continue to offer borrowers most of the same benefits.

Both the streamline refinance and Relief Refinance– Same Servicer options allow homeowners with a Freddie Mac mortgage to refinance without providing proof of income or employment. A big plus for homeowners who have seen their incomes decline and want to refinance at a lower interest rate.

Homeowners may still need to need to obtain an appraisal, although that is not specifically required under the Relief Finance– Same Servicer and the streamline refinance, but both programs require the seller of the new loan to verify that the property has maintained its value since the original appraisal which would eliminate homeowners whose property values are less than what they owe.

FHA and VA streamline-type mortgages do not require a new appraisal, allowing homeowners to refinance their mortgages despite declines in property values that have left them owing more than the property is worth.

Besides the advantage of not having to prove income or employment, the Relief Refinance– Same Servicer option does allow refinancing of mortgages at up to 125 percent of a home’s current value, providing a refinance option for underwater homeowners, although an appraisal is still required.

Freddie Mac also offers a Relief Refinance – Open Access option that allows a homeowner to refinance through any lender, although that route does require fully qualifying the new loan and after May 1, all other Freddie Mac mortgage programs except the Relief Refinance – Same Servicer option will require verification of funds.

Tags: freddie mac, mortgage refinancing, streamline finance, relief finance, homeowners, lower interest rate, underwater homes, mortgage servicers

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.