The FHA Streamline Refinance is a government program designed to make it easier for borrowers with an FHA Loan take advantage of lower interest rates. Complete the Quick Quote to confirm eligibility.
FHA Streamline Refinance Benefits
FHA Streamline Refinance Benefits
- Reduced interest rate
- Lower payment
- Easy to qualify
- Adjustable rate to a fixed rate
- No Appraisal needed
- Reduced processing time
- Less underwriting documentation
- Refinance process smoother
- Low fees to complete the refinance
- Increase cash flow
- Save money on interest
- Pay off debt faster with lower payment
- The loan to be refinanced must be an FHA insured loan
- The loan that is to be refinanced needs to be current
- No Appraisal needed to complete an FHA Streamline refinance.
- The FHA Streamline refinance must show a net tangible benefit to the client
- The borrowers cant take cash out when refinancing a mortgage with a FHA Streamline mortgage.
- Credit Score: The better the score the better refinance options
- Loan to Value Ratio: Important when choosing a refinance loan
- Loan Size: Will determine the kind of FHA Loan
- Term of the Loan: When do you want to pay off the loan
- Goal of the Loan: Reduce Rate, Lower Payment etc....
- Eligibility: The better the credit and income the easier it will be for a borrower to obtain an FHA Loan