FHA Streamline Refinancing
If you’re a homeowner with an FHA loan, a streamline refinance is an easy way to take advantage of lower interest rates. The streamline program lets you replace your current FHA loan with a new FHA loan that has a better rate. It features less paperwork and faster closing too. It’s quick and easy to get approved for FHA refinancing. Call us to get started!
FHA Streamline FAQs
So what is a FHA Streamline and how can it help me?
A FHA Streamline is a mortgage with reduced documentation, does not require an appraisal, and is designed for borrowers that currently have a FHA mortgage looking to refinance to get a lower monthly payment.
What do I need to qualify?
You must have an existing FHA mortgage, be able to verify you are still employed via a recent paystub, and no more than 1 late payment on your existing loan in the past 12 months.
Should I do a FHA streamline refinance?
If you have an existing FHA loan and you obtained the loan prior to January 26th 2015, you may be able to save money on your monthly mortgage insurance and if interest rates are also lower than what your current interest rate is than you could save even more money each month.
