Rate Reduction vs. Traditional Refinance

CBC National Bank’s Streamline Rate Reduction Program vs. Traditional Refinance

The CBC National Bank’s Streamline Rate Reduction Program is a streamline refinance. However, there are distinct differences that separate the transaction from a typical refinance offer. Here is a comparison:

CBC National Bank’s Streamline Rate Reduction Program

  1. No Asset Verification
  2. No Appraisal Option*
  3. Title Fee Credit (TFC) Option*
  4. Ongoing Market Notifications*

Traditional Streamline Refinance Transaction

  1. No Income Verification
  2. No Asset Verification

 

Although HUD mandates that all streamline transactions provide a borrower benefit, we go one step further. Typically when a borrower refinances with a mortgage company or a bank, the settlement fees (title fees) and lender fees are paid at closing or added to the loan balance. Our Streamline Rate Reduction Program requires no upfront fees, no appraisals, no inspections, minimal documentation and… we will pay ALL of the settlement charges In many cases, title fees alone can exceed $2,000.00, so having the fees credited may be beneficial. See our transaction comparison.

Ideal candidates for a streamline interest rate reduction are willing to forego the lowest rates available, in exchange for a slightly higher rate with no settlement or lender fees added to the principal loan balance. As a result, FHA and VA streamline candidates that elect to use the Title Fee Credit (TFC), reduce their monthly mortgage payment and/or mortgage term AND keep their balance virtually the same.

See if you can use a Title Fee Credit (TFC) to reduce your upfront streamline costs. <Click Here>

*Rates and terms subject to change based on market conditions and borrower eligibility. Restrictions may apply.Savings based on a $175,000 loan. Program not available in all areas. CBC National Bank’s processing center is located at 3010 Royal Blvd S, Alpharetta, GA 30022. This offer of credit is not guaranteed and is subject to credit approval.

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The FHA streamline refinance program helps borrowers lower mortgage payments. CBC National Bank specializes in FHA streamline refinancing transactions that lower interest rates and reduce mortgage payments without appraisals or income verification. FHA Streamline Refinances may be possible without increasing existing loan balances. No cost programs may result in a slightly higher interest rate. FHA Streamline Refinances may close in as few as 15 days, depending on date submitted. CBC National Bank specializes in VA Streamline Interest Rate Reductions with no income verification. VA Streamline Refinances may be possible without increasing existing loan balances. VA Streamline Refinances may close in as few as 10 days, depending on date submitted.

© 2010 CBC National Bank. Trade/service marks are the property of CBC National Bank or their respective affiliates and/or its subsidiaries. Some products may not be available in all states.

Kwe Parker (NMLS#49165) is a professional mortgage specialist for CBC National Bank that specializes in showing FHA and VA borrowers how to use seldom publicized methods to lower FHA and VA mortgage rates without the normal hassles associated with refinancing. Kwe "Clay" Parker and his team have helped thousands of FHA and VA borrowers reduce their mortgage payments.