See this page for additional info on FHA streamlines or contact us in the form on the right.
When a homeowner refinances an existing FHA loan to another FHA loan it is called “streamlining“. If you already have an FHA loan refinancing to a better rate through this streamline refinance process is quite easy. The main requirements for FHA streamline refinances are a solid history of payments on the existing loan and in some cases a credit score of 620+ is required. A major advantage of a streamline loan is that there is no appraisal required so an FHA loan can be refinanced even when the home is currently worth less than the outstanding loan amount. The other advantage of FHA streamline loans is that borrowers do not need to provide documentation of their assets or income. Finally, the FHA requires the approved lender to pay for most of the fees normally associated with a refinance.
If you have an FHA loan now and think you might benefit from refinancing to better terms contact us today.