FHA Streamline Refinance

 FHA Streamline Refinance Program Guidelines & Interest Rates

The FHA offers streamline refinances on insured 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

• No credit check, income verification, employee verification, or 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.