FHA Streamline Mortgage
The "streamline" FHA Mortgage refers only to the amount of documentation and underwriting that needs to be performed. There are several options available, but the basic requirements of a streamline refinance are:
- The mortgage to be refinanced must already be FHA insured.
- The mortgage to be refinanced should be current (not delinquent).
- The refinance is to result in a lowering of the borrower's monthly principal and interest payments.
- No cash may be taken out on mortgages refinanced using the streamline refinance process.*
Streamline refinances are designed to lower the monthly principal and interest payments on a current FHA-insured mortgage and must involve no cash back to the borrower, except for minor adjustments at closing not to exceed $500. There are several variations, call today to see which is right for you!
*we have other options available to assist you if you are looking to take cash out of your home.
Official link from the HUD website.


