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To be eligible for the Rate Reduction Program the following is required:
Effective immediately California Homeowners who financed their Home using an FHA Loan are now eligible for a non-qualifying Rate Reduction. Because your loan is already insured by FHA, there is no income verification, no appraisal requirement, no credit report, no closing costs added to your loan, and no money out of your pocket for costs or fees. The end result is simply a much lower Payment!