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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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December 11, 2016
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FHA.com is a private company, is not a government agency, and does not make loans.

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 Maximum Amounts for 2017

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

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.

Obama Mortgage Refinancing Options

Some borrowers need Obama mortgage help from the Making Home Affordable (MHA) program because they have fallen behind on their mortgage payments and don’t know what their options might be.

Can Overtime Pay Be Used to Qualify for an FHA Loan?

FHA loan rules require your loan officer to verify your income as part of your FHA loan application. Not all income can qualify to be used towards the calculation of the borrower’s debt-to-income ratio, only that which the lender can determine is reliable.

Common Questions About FHA Reverse Mortgages

The FHA’s version of the reverse mortgage, known as the FHA Home Equity Conversion Mortgage (HECM), is available to qualified borrowers who meet the FHA’s age requirements, occupancy requirements, and more. Reverse mortgages can be a bit more complex than a typical refinance loan.