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The FHA refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly, sometimes without an appraisal.

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April 27, 2017
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FHA Streamline Refinance

Learn About Your Mortgage Options

Sending a child to college, consolidating bills, taking a much needed vacation, or making home improvements are some of the ways homeowners tap into the equity they have accumulated in their home to help with these expenses. Keep in mind that FHA refinancing is only available to homeowners who are currently using their home as their principal residence.

FHA Refinancing With a Streamlined Loan

This refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly and oftentimes without an appraisal. FHA Streamlined Refinance also cuts down on the amount of paperwork that must be completed by your lender saving you valuable time and money.

In order to qualify for a Streamlined Refinance your original home loan must be an FHA loan in good standing and the refinance must lower your monthly interest payments. This type of refinancing option reduces your monthly expenses by lowering your payments but there is no option to receive cash back. This works well for people who are in good financial standing with no significant debt because it allows you a little extra money each month that can be put to good use elsewhere.

If you have a conventional loan you wish to refinance with an FHA refinance loan, you'll need to apply with the usual employment verification, credit check, debt ratio requirements and other considerations. An FHA refinance loan can get you many of the same results, and you may get better rates and lower payments.

FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
FHA Loan Rules for Documenting Commission Income

March 28, 2017 - FHA mortgage rules require the lender to verify the borrower’s income and employment, and some borrowers come to the loan process with unique circumstances such as commission income.

The FHA Loan Appraisal Process

February 20, 2017 - When you want to purchase a house with an FHA loan, the appraisal process is a vital part of the transaction; it’s impossible to buy a home with an FHA mortgage unless there has been an appraisal on the property to determine the fair market value of the home.

Are You Ready to Apply for a Mortgage in 2017?

January 6, 2017 - Do you have a mortgage but are considering cash-out refinancing? Some potential borrowers have an advantage when getting financially ready for a major loan application, while others may overlook important areas that need attention long before the loan paperwork is filled out.

FHA Loan Maximum Amounts for 2017

November 15, 2016 - Are you looking for a home to purchase with an FHA mortgage? Issues new to some first-time borrowers include FHA loan limits, and the maximum loan amount you can apply for. FHA home loans feature a maximum loan amount, which may vary.

Making Home Affordable Options for Obama Mortgages

September 12, 2016 - The government program sometimes known as the Obama Mortgage is called Making Home Affordable. When going to the Making Home Affordable official site, you will find a variety of options designed to help depending on your circumstances.