Spacer

The FHA Streamline Refinance is a special mortgage product, reserved for homeowners with existing FHA mortgages.

FHA Streamline Refinance

FHA Streamline Refinances are the fastest, simplest way for FHA-insured homeowners to refinance their respective mortgages into today's mortgage rates.

The FHA Streamline Refinance program's defining characteristic is that it does not require a home appraisal.

 

The FHA offers streamline refinances on existing FHA Mortgages.

 

The term  "streamline" refers to the amount of documentation required.

 

The Benefits of a FHA Streamline Refinance:

 

  • Appraisal usually not required

  • Very little paperwork

  • Lower credit requirements, income verification, employee verification, and underwriting fees

  • Easily increase or decrease the length of the term of your existing loan

  • Take advantage of current low interest rates

  • Little or no out-of-pocket costs

  • The basic requirements of a streamline refinance are:

  • The mortgage to be refinanced should be current (not delinquent).

  • The refinance is to result in a lowering of the borrower's monthly principal and interest payments.

  • No cash may be taken out on mortgages refinanced using the streamline refinance process.