FHA Streamline Refinance

Let us help make homeownership more affordable with a Federal Housing Authority (FHA) Streamline refinance.

What Is An FHA Streamline Refinance And Who Qualifies?

FHA Streamline refinances are reserved for homeowners who already have an FHA mortgage. They offer FHA-insured homeowners a chance to lower their monthly payments.

What Makes FHA Streamline Refinances Unique?

The defining characteristic of an FHA Streamline refinance is that it doesn’t require a new appraisal to establish a home’s current value. Instead, the homeowner is allowed to use their home’s original purchase price as its value, even if the home’s actual value is less today.

Who Qualifies For An FHA Streamline Refinance?

Homeowners with an existing FHA-insured home mortgage are eligible for an FHA Streamline refinance. To be eligible, you must be current with your payments on the existing FHA mortgage and have owned the property for at least six months before you can qualify for refinancing.

FHA Streamline Refinance Benefits

An FHA Streamline refinance’s biggest benefit is that it allows the homeowner to use the original purchase price of their home as its current value regardless of what its re-appraised value would be. What this means for you is that the FHA may allow you to refinance even if you owe more than your home is currently worth.

With an FHA Streamline refinance, you’ll still enjoy all of the features of your FHA mortgage – with added benefits. FHA Streamline refinance benefits include:
  • Lowering your monthly payments - permanently
  • "No closing cost" options available
  • Home re-appraisal not required to refinance in some cases
  • Reduce your monthly payment even more with a decreased annual mortgage insurance premium and up-front mortgage insurance premium if your original FHA loan was endorsed on or before May 31, 2009

Get Pre-Qualified For An FHA Streamline Refinance

Contact us today and one of our qualified mortgage experts will walk you through the FHA Streamline refinance process and answer any questions you may have. Get started with a pre-qualification today!

An FHA loan is a government-insured loan subject to certain qualifications and restrictions. FHA provides mortgage insurance on loans made by approved lenders. The cost of mortgage insurance is paid by the homeowner as an up-front amount that is usually financed into the loan amount, as well as an additional amount that is included in the monthly mortgage payment. Subject to credit approval. If you are a servicemember on active duty, prior to seeking a refinance of your existing loan, consult your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.