Tag: Streamline

USDA Makes Major Revisions to Chapter 6 – Loan Purposes Handbook

Written by: David Hail, Staff Writer USDA made some massive changes with this update, so be sure to read through this article and the new charts if you offer USDA financing. NEW Chart – Refinance Comparison – USDA NEW Checklist – Loan Origination Checklist – USDA Updated Chart – Refinance Loans – All Agency Guidance […]

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Documents Needed for an FHA Streamline

Question: What are the income and asset document requirements for an FHA Streamline?  MC – FHA Streamline Worksheet Answer: If you are doing a non-credit qualifying streamline refinance, then income and asset documentation is not required. If you are doing a credit qualifying streamline refinance, then income and asset documentation is required based on the type […]

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FHA Requirements to Remove a Borrower on a Streamline Refinance

Question: What are the requirements to remove a borrower on a streamline refinance? Answer: You will have to do a credit qualifying streamline refinance in order to remove a borrower.  So, there will be no appraisal or LTV limitation, but the remaining borrower will have to have sufficient income and ratios to qualify for the […]

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