FHA Streamline Refinance

FHA streamline refinance are exclusive opportunities that are only available for current FHA clients. Streamline candidates must also have a good payment history with their existing FHA mortgage. FHA refinance loans generally only require 3% equity if you do not need additional money to be financed in the loan. Streamline loans require less paperwork and in most cases the closing costs are significantly reduced.

The basic requirements of a streamline refinance are:

• Existing loan to be refinanced must already be FHA insured.
• The existing mortgage being refinanced must be current.
• The proposed mortgage must lower the monthly payment
• Refinancing is only offered as a rate and term option
• No money may be received by the borrower in the streamline loan