FHA Streamline
Streamline refinance refers to the refinance of an existing FHA-insured mortgage requiring limited borrower credit documentation and underwriting. Streamline refinances are available under credit qualifying and non-credit qualifying options.
Advantages of a FHA Streamline
- No income required
- No appraisal required
- Credit scores as low as 580
- Lowering your monthly payment
- Reducing your interest rate
- Securing a fixed-rate mortgage that won’t change over time
- Building equity faster—shorter term options may be available
- Lower closing costs because an appraisal is not usually required
