Why use the FHA Streamline Refinance Calculator?

The streamline calculator is for those who are more comfortable doing research before they call in and talk to a mortgage loan officer. It’s for those who would rather examine their current mortgage situation on their own and make an educated decision on what is the best option for them before calling in. It also allows them to plan out their finances and see where they would be once they incorporate the estimated monthly savings into their budget.

The Streamline Refinance Program Saves Money

The most common reason to refinance with the streamline program is to save money on your monthly payment. However, getting a rate isn’t as easy as hopping online and checking a website. This is because rates fluctuate up and down and are different on any given day. Also, rates will differ based off of each individual’s specific circumstances. This means that a rate quote on your new mortgage payment is custom and specific to you based off of your circumstances that need to be analyzed by a licensed mortgage loan officer.

Using the FHA Streamline Calculator

Even though you wouldn’t be able to get an exact rate quote online, you can still use the FHA streamline refinance mortgage calculator. The streamline calculator allows you to get a rough estimate of what your monthly savings will be based off of what your current interest rate is and what your home value is. This is especially useful to those who are looking for a quick idea of what it would be like refinancing under this program.

Things To Keep In Mind

Remember that when you’re using the FHA Streamline Refinance Calculator that it is simply an estimation tool. In no way does it represent what your exact savings or payment would be. If you do decide to use it as a basis for a new financial plan, keep in mind that in most cases under this program you are also able to skip a month’s payment which allows you to free up cash that you can incorporate into your budget.

Always Call In For Accurate Quotes

Village Capital is more than happy to provide you with a free customized rate quote at any time. Remember, to find out exactly how much you could be saving each month, in addition to how much you could save on the life of your loan, you will need to get a live rate quote from Village Capital. Please click here if you would like a free rate quote.