Get the free FHA Simple Refinance Worksheet - Mortgage Currentcy

FHA Simple Refinance Worksheet General Eligibility Current loan must be FHA insured Appraisal required and minimum property requirements must be met Full credit qualifying required Condominium units

How to fill out fha simple refinance worksheet

How to fill out fha simple refinance worksheet

1. Gather all the necessary information and documents required for the FHA Simple Refinance Worksheet.
2. Start by filling in the borrower's information, including name, address, and contact details.
3. Provide the loan information, such as the current FHA loan number, the original loan amount, and the interest rate.
4. Fill in the new loan information, including the new loan amount, the new interest rate, and the new loan term.
5. Calculate the proposed monthly savings by subtracting the current monthly payment from the new estimated monthly payment.
6. Input any additional fees or costs associated with the refinance, such as appraisal fees or closing costs.
7. Calculate the Net Tangible Benefit to determine if the refinance is beneficial to the borrower.
8. Review all the information entered to ensure accuracy and completeness.
9. Sign and date the worksheet.
10. Submit the completed FHA Simple Refinance Worksheet along with other required documents to your mortgage lender or servicer.

Who needs fha simple refinance worksheet?

1. Borrowers who are interested in refinancing their current FHA loan
2. Mortgage lenders or servicers who require a completed worksheet for FHA simple refinancing applications

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What is fha simple refinance worksheet?

The FHA simple refinance worksheet is a document used to calculate and analyze the benefits of refinancing an FHA loan.

Who is required to file fha simple refinance worksheet?

Borrowers who are considering refinancing their FHA loan are required to complete the FHA simple refinance worksheet.

How to fill out fha simple refinance worksheet?

To fill out the FHA simple refinance worksheet, borrowers need to input their current loan details, proposed new loan terms, and calculate the potential savings or costs.

What is the purpose of fha simple refinance worksheet?

The purpose of the FHA simple refinance worksheet is to help borrowers evaluate if refinancing their FHA loan will be beneficial in terms of savings or costs.

What information must be reported on fha simple refinance worksheet?

The FHA simple refinance worksheet must include current loan balance, interest rate, proposed new interest rate, loan term, closing costs, and estimated monthly payments.