The Streamline refinances are available under credit qualifying and non-credit qualifying options. FHA Streamline loans have reduced paperwork, simple requirements for eligibility, and a list of features which helps borrowers save time and money. If you currently have an FHA Loan, you may want to consider FHA Streamline refinance. Especially if your current interest rate might be higher than today's mortgage rates or if you owe more on your home than it’s worth.
Lower monthly payments
The ability to refinance even if you have an underwater mortgage
The potential for either credit or non-credit qualifying
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. FHA Streamline loans have reduced paperwork, simple requirements for eligibility, and a list of features which helps borrowers save time and money.
If you currently have an FHA Loan, you may want to consider FHA Streamline refinance. Especially if your current interest rate might be higher than today's mortgage rates or if you owe more on your home than it’s worth.