Lower Your Rate, Reduce Your Payment
Refinance your mortgage to lower your interest rate, reduce your monthly payment, or access your home's equity. Explore FHA Streamline refinancing and other options designed to save you money.
Refinance Calculator
Calculate your potential savings and see if refinancing makes sense for you. Compare your current loan with new refinance options.
Your Refinance Analysis
Current Loan
New Loan
Savings Breakdown
Monthly Savings
$0
Annual Savings
$0
Total Interest Saved
$0
Break-Even Point
0 months
(Time to recover closing costs)
Available Refinance Products
Explore our comprehensive range of refinance options tailored to your needs.
Cash-Out Refinance
Refinance and tap into your home equity
Key Benefits:
FHA Streamline Refi 15 Year Fixed - NCQ
FHA Streamline Refinance 15-year fixed rate mortgage (Non-Credit Qualified)
Key Benefits:
FHA Streamline Refi 30 Year Fixed - NCQ
FHA Streamline Refinance 30-year fixed rate mortgage (Non-Credit Qualified)
Key Benefits:
FHA Streamline Refi 5/1 ARM - NCQ
FHA Streamline Refinance 5/1 adjustable rate mortgage (Non-Credit Qualified)
Key Benefits:
FHA Streamline High Balance 30 Year Fixed - NCQ
FHA Streamline High Balance 30-year fixed rate mortgage (Non-Credit Qualified)
Key Benefits:
FHA Streamline High Balance 5/1 ARM - NCQ
FHA Streamline High Balance 5/1 adjustable rate mortgage (Non-Credit Qualified)
Key Benefits:
FHA Streamline Refinance
A simplified refinancing option for existing FHA borrowers. Reduce your interest rate and monthly payment with minimal documentation and no appraisal required in most cases.
Minimal Documentation
Streamlined process with reduced paperwork requirements. No income verification or employment verification needed in most cases, making the process faster and easier.
No Appraisal Required
In most cases, no property appraisal is needed, saving you time and money. Your home's current value is not a factor in the streamline refinance process.
Lower Monthly Payment
Reduce your monthly mortgage payment by securing a lower interest rate. The streamline refinance must demonstrate a "net tangible benefit" such as lowering your monthly payment.
Why Choose FHA Streamline Refinance?
Reduced Paperwork
Simplified documentation compared to traditional refinancing
No Credit Score Requirement
FHA doesn't require a minimum credit score (though lenders may have their own requirements)
No Income Verification
Income and employment verification typically not required
Lower Interest Rates
Take advantage of current lower market rates
Faster Processing
Simplified process means faster closing times
Reduced MIP Options
May qualify for reduced mortgage insurance premiums depending on loan-to-value and closing date
Eligibility Requirements
To qualify for an FHA Streamline Refinance, you must meet these basic requirements:
Basic Requirements
- Current FHA Loan: You must have an existing FHA-insured mortgage
- On-Time Payments: Must be current on your existing FHA loan (typically 12 months of on-time payments required)
- Net Tangible Benefit: The refinance must result in a lower monthly payment or switch from adjustable to fixed rate
- Occupancy: Property must be your primary residence, owner-occupied
- Waiting Period: Typically 210 days (about 7 months) from original loan closing before you can streamline refinance
What You Need
- Minimal Documentation: Credit check and verification of current loan information
- No Appraisal: Property value is not reassessed (in most cases)
- No Income Verification: Employment and income verification typically not required
- Current Loan Details: Information about your existing FHA mortgage
- Rate/Term Purpose: Streamline is for rate/term refinancing only (not cash-out)
Important Notes
- Net Tangible Benefit Required: The new loan must provide a measurable benefit such as reducing your monthly payment by at least $50 or converting from an ARM to a fixed-rate mortgage.
- Lender Requirements: While FHA sets minimum requirements, individual lenders may have additional criteria such as minimum credit scores or maximum loan-to-value ratios.
- Mortgage Insurance: MIP (Mortgage Insurance Premium) will still be required. The upfront MIP may be waived if your current loan closed after June 1, 2013, but annual MIP typically continues.
How FHA Streamline Refinance Works
The FHA Streamline refinance process is designed to be fast and simple. Here's what to expect:
Initial Consultation
Contact me to discuss your current loan and determine if an FHA Streamline refinance is right for you. We'll review your loan details and check if you meet the eligibility requirements.
Minimal Documentation
Complete a simplified application. Unlike traditional refinancing, you won't need to provide income documentation, employment verification, or most financial statements.
Credit Check & Loan Review
We'll run a credit check and verify your current loan information. Your lender will confirm you're current on payments and that the refinance provides a net tangible benefit.
No Appraisal Required
In most cases, no property appraisal is needed. The process is streamlined because your home's current value isn't a factorโonly that you're reducing your rate or switching to a fixed rate.
Closing & New Loan
Once approved, you'll close on your new loan with a lower interest rate or fixed rate. The process is typically faster than traditional refinancing, often closing within 30-45 days.
Other Refinance Options
FHA Streamline isn't the only option. Explore other refinancing solutions that might better fit your needs:
Cash-Out Refinance
Refinance and tap into your home's equity to access cash for home improvements, debt consolidation, or major expenses.
Rate & Term Refinance
Lower your interest rate, reduce your monthly payment, or switch from an adjustable-rate to a fixed-rate mortgage.
Conventional Refinance
Refinance from FHA to conventional loan to potentially eliminate mortgage insurance if you have enough equity.
Benefits of Refinancing
Refinancing your mortgage can provide significant financial benefits:
Lower Monthly Payments
Secure a lower interest rate and reduce your monthly mortgage payment, freeing up cash for other expenses or savings.
Pay Off Loan Faster
Refinance to a shorter term to pay off your loan sooner and save on total interest paid over the life of the loan.
Switch to Fixed Rate
Convert from an adjustable-rate mortgage to a fixed-rate mortgage for predictable, stable monthly payments.
Access Home Equity
With cash-out refinancing, access your home's equity to fund renovations, debt consolidation, or major purchases.
Ready to Lower Your Rate?
Let's explore how refinancing can help you save money. Whether you're interested in FHA Streamline or another refinance option, I'll help you find the best solution.
Get In Touch
Have questions about refinancing? I'm here to help you understand your options and find the best solution for your needs.
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Kyle Kiss
Mortgage Loan Officer
I specialize in helping homeowners refinance their mortgages to save money. Whether you're interested in FHA Streamline refinancing or other options, I'll help you find the best solution for your financial goals.