FHA Streamline Refinance

We hear it all the time!

What's the minimum credit score for an FHA loan? The answer is it depends on who you ask. All the major banks Wells Fargo, Bank of America, Chase, Citigroup, etc. have minimum FICO score requirements.

On January 20, 2010 FHA announced a policy change to address risk and strengthen finances. FHA changed the minimum FICO scores for new borrowers.

New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%.
This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well.
This change will be posted in the Federal Register in February and, after a notice and comment period, would go into effect in the early summer.

The 2016 FHA streamline refinance program does not have a minimum FICO score requirement. Effective on or after April 18, 2011, FHA no longer requires employment and income verification on streamline refinance loans.

No minimum credit score to qualify
No employment verification
No credit report required
No appraisal required

A borrower is eligible for a FHA streamline refinance if for the last 12 months mortgage payments were made on time and there current mortgage is an FHA mortgage. To qualify for a streamline refinance there must be a net tangible benefit to the homeowner.

the borrower must have made at least six payments on the FHA-insured loan
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 refinance is 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.

Apply Now

This Form cannot be submitted until the missing fields (labelled below in red) have been filled in
FHA Streamline
Please note that all fields followed by an asterisk must be filled in.
Property State*
County of subject property*
Property Type*
ZIP code of property*
Use of property *
Is your current mortgage an FHA *
Are you requesting a loan with a spouse or co-borrower*
If yes, co borrower first name
Your middle initial
Co borrower Last name
Please choose a suffix
Co borrower Address
Co borrower social security number
Co borrower date of birth
What interest rate do you have now*
Fixed rate or Adjustable
Current loan balance - How much do you owe now*
Have you had a mortgage late payment in the last 12 months
Your first name*
Your middle initial
Your last name*
Please choose a suffix
Daytime/Work Phone*
Evening Phone*
Cell Phone*
What is your email address*
Property address*
City*
State*
ZIP code*
How long have you lived at this address*
Date of birth*
Marital status*
Citizenship status*
Social Security #*
What is your monthly housing payment*
Annual Premium Homeowners Insurance*
How much are your property taxes a year*
Please tell us about any special circumstances that may apply to your loan request and/or the best time for us to call you:

We look forward to working with you.

We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.

Call us 888.958.5382

Understanding the Role of a Mortgage Broker for the Best Mortgage Rates in New Jersey

We look forward to working with you.

Apply Now!

Call 800.516.9166

Email Us!

Recent Articles

Best Mortgage Rates in New Jersey.
Jun 01, 23 09:40 AM
Best Mortgage Rates in New Jersey. See if you qualify for the lowest mortgage rates available!
Read More
No Income Verification Mortgage Florida. No Income Documents Required.
May 31, 23 10:59 AM
A no income verification mortgage, is a type of home loan that allows borrowers to secure financing without providing traditional proof of income, such as pay stubs, W-2 forms, or tax returns.
Read More
FHA Minimum Credit Score Requirements in 2023: What You Need to Know
Mar 02, 23 07:59 AM
What you need to know about FHA minimum credit scores in 2023, including the minimum credit score requirements, why credit score is important, and how to improve your credit score to qualify for an FH…
Read More

www.MORTGAGE-WORLD.com LLC is not an agency of the state or federal government and is not affiliated with the Federal Housing Administration. Licensee will not make any mortgage loan commitments or fund any mortgage loans under the advertised program. All loans arranged with third-party providers. Licensed by the Connecticut Department of Banking Connecticut Mortgage Correspondent Lender MCL-1630225 Licensed by the NJ Department of Banking and Insurance NJ Correspondent Residential Mortgage Lender License Licensed by the Florida Office of Financial Regulation Florida Mortgage Lender License MLD1987 NMLS ID 1630225 www.MORTGAGE-WORLD.com LLC 535 Bergen Blvd. Suite 2 Ridgefield NJ 07657 Call 888-958-5382