Domain: bendoregonhomeloans.com Token: brave-ledger-verification=bcb08fe7756b43ed0f51687abd11420fb56f7c4de7dd8b3d550def2e86606bc0 brave-ledger-verification=bcb08fe7756b43ed0f51687abd11420fb56f7c4de7dd8b3d550def2e86606bc0
top of page

FHA Streamline Refinance

An FHA streamline refinance is a process that allows homeowners with an existing FHA loan to refinance their mortgage with reduced documentation and lower fees. To qualify for an FHA streamline refinance, borrowers must meet certain criteria, including having made at least six monthly payments on their current FHA loan, being current on their mortgage payments, and having a credit score of at least 580.

​

During the FHA streamline refinance process, existing FHA loans are replaced with new, lower interest rate loans, which can lower monthly mortgage payments and potentially save homeowners thousands of dollars over the life of their mortgage. Unlike traditional refinancing, an FHA streamline refinance does not typically require a home appraisal or income verification, making the process quicker and easier.

​

It is important to note that FHA streamline refinances can only be used to refinance existing FHA loans and cannot be used to convert an FHA loan into a conventional mortgage. Additionally, borrowers must pay mortgage insurance premiums for the entire term of their new loan, regardless of their loan-to-value ratio.

bottom of page