Refinancing
Learn About RHA Streamline Refinancing
What is an FHA Streamline Refinance?
The FHA Streamline is a special refinance program reserved for homeowners with
existing FHA mortgages. It’s the fastest, simplest way for FHA-insured homeowners to refinance their mortgages at today’s low mortgage rates.
Benefits of the FHA Streamline program include:
- Low refinance rates
- Lower Mortgage Insurance Premium (MIP)
- Mortgage Insurance Premium (MIP) refund
- No appraisal
- No verification of job or income
How Does It Work?
The FHA Streamline works like any other refinance product. You take out a new FHA
mortgage, typically with a better interest rate and lower monthly payment, this new mortgage replaces your existing loan.
This product is available as a fixed-rate or adjustable-rate mortgage with no FHA prepayment penalty to worry about.
Ask your lender what is best for you.
FHA Streamline Refinance Pros
- Easy to qualify
- Access today’s lower interest rates
- Lower Mortgage Insurance Premium (MIP) rates for some borrowers
- No home appraisal is necessary
FHA Streamline Refinance Cons
- No cash-back allowed
- Some Underwriting may be stricter than others
- You can’t shorten your loan term
- Closing costs can’t be rolled into the loan balance
I am interested in an FHA Streamline Refinance!
Types of Mortage Refinancing
Contact a loan officer today, and we can help you break it down to see if this is a good option for you!
Ray Ochoa
Senior Loan Officer
Bill Craft
Sales Manager
NMLS 1621885
State Lic: AZ LO-0942496, CA-DBO01621885, MLO-54015VA
PHONE: (928) 366-1639
PHONE: (928) 247-9089
Derek Egeberg
Branch Manager
