Obviously I am asked this question often and it usually goes like this, "I saw your website and wanted to call and see if I/we may qualify for an FHA streamline refinance." Perfect! I can help.
First, ask yourself these three questions:
Do I have an FHA home loan right now?
Am I currently employed with a likelihood of that employment continuing?
Is my existing FHA home loan current? (In other words not late on ANY payments right now.)
If you answered yes to all three of those questions and your home is in Georgia or Florida don't hesitate just pick up the phone and call 678-946-0101
If you answered no to any 1 or more of those questions still call - no website can answer all of your questions.
Currently Novation Mortgage, unlike most of our "competitors" does not require any specific credit score, no income verification, no appraisal on most refinances, and no asset verification. If you are facing foreclosure because of late payments you need to act quickly.
Ken Cook - Georgia - FHA, USDA, VA and Conventional Home Loans (678) 439-8683
Novation Mortgage is based in Marietta, Georgia where we have been greatly affected by one of the most serious droughts in modern Georgia history. All of our employees an associates live in the Atlanta metropolitan area and are also affected by this drought. As such we always need quick - at our fingertips - information and this is where we get ours. Remember for FHA home loans, USDA home loans, Fannie Mae and Freddie Mac home loans it is impossible to beat our combination of local, accurate, timely, experienced, and honest information about financing for your home. We also offer the HUD $100 home purchase program as well as the USDA 102% financing options for purchases of homes in rural Georgia.
If you are new to or planning to move to the Atlanta area it is important to note that even though we have had near flood conditions and massive amounts of rainfall over the last several weeks are have been in a 5 year drought with the last 3 years being major drought conditions. While ponds, streams and rivers are flowing at or near capacity the Georgia EPD and Department of Natural Resources have determined we do not have an excess and water control procedures must remain in place.
In Georgia and the metro-Atlanta area there are exemptions for commercial enterprises as well as personal use such as vegetable gardens. You should print the information from the Georgia EPD/DNR in the event an enforcement official attempts to cite you for permitted use such as watering your vegetable garden which is totally exempted from the restrictions.
Each county in the metropolitan Atlanta is charged with enforcing their water use guidelines:
Cobb County (Marietta, Acworth, Kennesaw, Smyrna, Powder Springs, Mableton, Blackwells, Roswell) restrictions are still in effect. Odd number and even number watering days and time limits are in effect and full details can be found at http://water.cobbcountyga.gov/outdoor.htm
Fulton County (Alpharetta, Roswell, Sandy Springs, John's Creek, Atlanta, Buckhead, College Park, East Point) follows the same guidelines of Tuesday, Thursday and Sunday for 25 minutes using one hand held watering device with a shut-off nozzle between the hours of midnight and 10 AM. Even number addresses are permitted to follow the plan on Monday, Wednesday and Saturday. Fulton County PDF
Cherokee County (Woodstock, Acworth, Canton, Ball Ground, Holly Springs) maintains their own restriction guidelines and enumerates pressure washing and car washing to be included in the permitted use of water on the appointed by address days. Cherokee Water Authority
Dekalb County (Stone Mountain, Chamblee, Dunwoody, Duluth, Doraville) provides detailed information on how to use the rules to make best use of captured condensate and gray water. It seems they are more concerned with how you can than why you can't. Good for them. Visit the Dekalb County Water Authority water use website.
This will save you a lot of time and disappointment:
If your home is currently listed FOR SALE you cannot refinance using a conventional loan. The property will have to be unlisted at the time of the refinance. Some lenders require the property to have been unlisted for 3 to 6 months.
If you do not currently have an FHA home loan you cannot do an FHA streamline refinance - that is for FHA to FHA only but there may be other options. Call you local home loan expert.
FHA streamline refinances are not "free" - there are closing costs. Some of those costs may be minimized through a credit for UFMIP and the title agent/attorney may give a discount if they did the closing on the original loan within a reasonble time period previously.
Upgrades CAN be financed into a new loan. It will require an appraisal "as is" and "subject to".
Cash out refinancing is still available but not as readily as it was just a few months ago.
Before you start counting on refinancing pick up the phone and call a seasoned real estate finance specialis FROM YOUR AREA. If you live in Georgia and call someone in New York or California you may be shooting yourself in the foot. If you get a mail solicitation from some national lender do youself a big favor and compare with at least TWO local sources of good reputation. Do a Google search and ask around.
Ken Cook - Georgia - FHA, USDA, VA and Conventional Home Loans (678) 439-8683
In Georgia and the metro-Atlanta area there are exemptions for commercial enterprises as well as personal use such as vegetable gardens. You should print the information from the Georgia EPD/DNR in the event an enforcement official attempts to cite you for permitted use such as watering your vegetable garden which is totally exempted from the restrictions.