When interest rates are low, everyone wants to refinance. And if you are currently in an FHA loan, one of the most popular refinance programs – the FHA streamline refinance – is often marketed by lenders as an easy way to refinance and save some money.
One of the bigger lenders is Bank of America and generally speaking, they are big enough that they let their customers know about different loan program types. Since they are so big, many of their current customers are asking the question:
Is there a Bank of America FHA refinance program?
The Bank of America FHA Streamline Refinance: What You Want To Know
Does B of A have a FHA streamline refinance program? Yes and no. Yes, they are an FHA approved lender and are able to help you with a FHA streamline refinance, but no they are not the only bank doing FHA streamlines. If your current lender is B of A, you can call them and get a quote, but the good news is that you can also work with any other FHA approved lender to also give you a free FHA streamline quote.
The FHA streamline program is not specific to Bank of America, it is designed so that regardless of who your current lender is with your current FHA loan – you can get a new FHA insured loan through whoever you feel like gives you the best deal.
Getting The Best Deal on Your FHA Streamline
There is one secret that most lenders will not tell you about the FHA streamline program – shop around! By shopping around and getting multiple quotes from multiple lenders, you will be able to compare who can do what for you. Find out what lender has the best rates, who has the fastest turn times and who lets low credit scores also do a streamline. Getting a quote for the FHA streamline is easy and only takes a few minutes.
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