Streamline Refi

An FHA streamline refinance is a simplified refinance option for FHA homeowners. Typically, no appraisal or income validation are required.  

Benefits of FHA Streamline Refinance

AZ FHA Streamline refinances help FHA homeowners reduce their FHA mortgage payment. Furthermore, streamline refinances do not require the typical steps a normal mortgage does. For example:

  • No Appraisal Required
  • No Income Docs Required

Basic FHA Streamline Guidelines

While FHA Streamlines are not void of requirements entirely, the process is simpler than normal mortgage transactions. 2 of the most critical ruless are:

  • FHA homeowner has made at least 6 payments on current FHA mortgage
  • Streamline must benefit borrower financially

  1. Apply with the HOUSE Team

  2. Provide documentation requested by your Mortgage Lender (see below)

  3. Sign a disclosure package provided by your Mortgage Lender

  4. Sit back while your Mortgage Lender processes your FHA streamline

  5. Close on your FHA Streamline and save money!

FHA Streamline Documents

Similar to the overall process, the documents needed for the processing of an FHA streamline is simplified. In fact, typically just the following are needed:

  • Clear copies of you/your spouses ID’s
  • “NOTEopens PDF file ” for your current FHA loan
  • “HUD-1opens PDF file ” for your current FHA loan
  • Most recent mortgage statement for current FHA loan
  • Homeowner’s insurance company info
  • Signed disclosure package

FHA Streamline Helpful Hints

  • Always close your FHA streamline at the end of the month
  • You “skip” the monthly mortgage payment following your close
  • You will receive a refund check from your current escrow account 2-4 weeks after you close on your new FHA Streamlined Mortgage