1. General Message
2. What is a Mortgage Rate Reduction?
3. What is an FHA Streamline Refinance?
4. What do I need to do?
5. How long does it take?
6. Why Security National Mortgage Company?
7. Do you offer other types of mortgages?
1. General Message
Welcome to the information page for Tom Douroux, Security National Mortgage Company and our FHA Streamline Mortgages.
This information is designed to inform and educate you about FHA Streamline refinances including how quick and easy it really is, as well as the primary purpose – to lower your monthly payment.
We enable current FHA homeowners an easy more automated process that requires less documentation than the standard conventional loans demand.
If you already have an FHA mortgage, we recommend that you consider that rates are at historic lows.
Now is the time to take advantage of these savings by refinancing with Jeff Nelson and Security National Mortgage Company.
2. What is a Mortgage Rate Reduction?
We focus on a special streamline program called a "Streamline Rate Reduction".
This program allows borrowers to get lower interest rates, WITHOUT incurring any fees to get the lower rate.
This is how it works...
We are paid a fee by our HUD sponsored investors to initiate the Rate Reduction process with FHA
borrowers. Why?
We want to earn the interest on your loan.
We then take the fee that we receive and pay any costs involved in helping you lower your interest rate.
We DO NOT add any fees to the back of the loan! This would greatly reduce your benefit from this program.
Whatever funds are left over after we pay the transaction costs is what we earn for saving you money. It is a win-win transaction. You get a lower payment (at no cost) with little effort and the comfort of knowing that you never have to worry about your interest rate again… and we gain a new client.
3. What is a Streamline Refinance?
The mortgage term “streamline” refers only to the amount of underwriting & documentation required by the FHA and Security National Mortgage Company.
There are 3 basic requirements to qualify for an FHA streamline refinance:
1) Your home loan to be refinanced must already be FHA insured.
2) Your home loan to be refinanced should be in a current status, and not delinquent.
3) Your new mortgage is to result in a lowering of your monthly P&I payments.
Cash out is not allowed on mortgages refinanced using the FHA streamline refinance process. If you are looking for cash out, we may be able to accommodate your request with a traditional FHA or Conventional refinance.
4. What do I need to do?
First is the easy decision of saving money on your monthly payment. This is all about your monthly savings!
Second, is to collect the following documentation:
1) A copy of the original note with your current lender,
2) A copy of your most recent mortgage statement; and
3) Proof of your social security number, such as a copy of your social security card, a W-2 or the first page of last years federal tax return.
Just as a side note, you are not required to supply income or asset information – ABSOLUTELY NONE!
Third, call Tom Douroux and Security National Mortgage Company, to begin your quick loan application. That’s it!
5. How long does it take?
Once you have contacted Security National Mortgage Company, we begin by completing your application over the phone. We will require you to fax or mail us the documents detailed in the previous message.
With this information we can complete the qualification process and properly quote you your new lower interest rate and lower payments.
Processing is typically completed within several days to a week, and loan documents are prepared for your signature. You may sign your new loan documents in the comfort of your home or your place of business, or you are welcome to visit our title or escrow offices.
That’s it. Once the loan has funded and recorded, you will make your new lower monthly loan payment to us.
6. Why Security National Mortgage Company?
Security National Mortgage Company is a Mortgage Banker and is a subsidiary of a publicly traded insurance company.
We lend in 38 states and have 35 operations centers across the country.
As one of the nations leading lenders, we have a strict code of ethics and take price in delivering a quality experience for all our customers.
7. Do you offer other types of mortgages?
Absolutely
Security National Mortgage Company originates residential purchase, rate and term and cash
out refinances. Our menu of mortgage products include FHA, VA, Conforming and Super Jumbo loans to $ 3,000,000.
We also originate commercial purchase and refinance transactions to $ 100,000,000 as well as SBA
loans.
We gladly accept any and all referrals. You may reach a representative by pressing “0” now.
Thank you for taking the time to learn about Security National Mortgage Company,
We look forward to serving you and saving you money.
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