KEYWORDS:FHA Streamline Refinance 2013, FHA Florida Streamline Refinance 2013, FHA New Jersey Streamline Refinance 2013,

FHA Streamline Refinance 2017

FHA Streamline Refinance 2017

A borrower is eligible for a FHA streamline refinance without credit qualifying if they has owned the property for at least six months. Individuals may be deleted from the title on a streamline refinance if the remaining owner-occupant can demonstrate that he/she has made the mortgage payments during this time.

To qualify for a streamline refinance there must be a net tangible benefit to the homeowner. Net tangible benefit is defined as a 5% reduction to the principal and interest (P&I) of the mortgage payment plus the annual mortgage insurance premium (MIP) or refinancing from an Adjustable Rate Mortgage (ARM) to a fixed rate mortgage.

  • the borrower must have made at least six payments on the FHA-insured
  • mortgage being refinanced at least six full months must have passed since the first payment due date of the refinanced mortgage
  • at least 210 days must have passed from the closing date of the mortgage being refinanced

FHA streamline refinances are designed to lower the monthly principal and interest payments on a current FHA-insured mortgage. The new loan must involve no cash back to the borrower, except for minor adjustments at closing, not to exceed $500.

FHA does not require an appraisal on a streamline refinance. FHA does not require a credit report. No minimum credit score is required. Effective after April 18, 2011, FHA no longer requires employment and income verification on streamline refinance loans.

A 203(k) rehabilitation mortgage may be refinanced into a streamline mortgage after all work is complete. The rehabilitation work is considered complete by:

  • a fully executed certificate of completion
  • closing the rehabilitation escrow account with a final release

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www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.


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KEYWORDS: FHA Streamline Refinance 2017,
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FHA Streamline Refinance Requirements

Apply Now!

To qualify for a streamline refinance your current mortgage must be a FHA mortgage

No Minimum Credit Score Required

There are no minimum credit scores required to qualify for a streamline refinance

No credit score required

No Appraisal Required

There is no appraisal required to qualify for a streamline refinance

No appraisal required

No employment verification

You don't even have to have a job they don't verify it

No employment required

No credit report required

You must have 12 months on time mortgage payments

Apply Now!

Call Now, Our Staff is Available 888-958-5382