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FHA Streamline
Refinance Loan
Simplified Refinancing
The FHA Streamline Refinance is a simplified refinancing option for homeowners with existing FHA loans. Designed to reduce monthly payments and lower interest rates, this refinance loan requires minimal documentation—no new appraisal, credit report, or bank statements—making it a fast and cost-effective choice for eligible FHA borrowers.
Key Benefits
- Lower monthly payments and interest rate.
- No new appraisal or credit check required.
- Minimal upfront costs, potentially allowing you to refinance with no money out of pocket.
- Available exclusively for homeowners with FHA loans who meet eligibility requirements.
Who It’s For
- Homeowners with an existing FHA mortgage looking to reduce monthly payments or interest rates.
- Borrowers who have held their FHA loan for at least 210 days and made six on-time payments.
- FHA loan holders seeking a quick, low-cost refinancing solution without the need for extensive documentation.
Pros and Cons
Pros:
- Lower Interest Rate: Allows eligible borrowers to refinance at a potentially lower rate, resulting in monthly savings.
- Minimal Documentation: No appraisal, credit check, or asset statements required, making the process faster and simpler.
- Low Upfront Costs: Often available with little to no out-of-pocket expenses.
Cons:
- Limited to FHA Loan Holders: Only available for homeowners with an existing FHA loan.
- No Cash-Out Option: Does not allow homeowners to access equity as cash.
- Possible Extension of Loan Term: Choosing a longer term to lower monthly payments may extend the loan duration.
How to Apply
Contact us today to see if you qualify for an FHA Streamline Refinance and take advantage of a fast, low-cost way to lower your mortgage payments.
For a quicker start, complete the form on this page and start your pre-approval process today!
CONTACT US TODAY!
Jumbo Loan FAQs
It’s a quick, simplified refinance option for FHA loan holders, aimed at lowering monthly payments or interest rates with minimal paperwork.
No, an appraisal is not required, saving you time and costs.
No, this loan type does not offer cash-out options.
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