FHA Streamline Refinance is a rate reduction program for FHA mortgage borrowers.  The streamline refers to the lesser amount of documentation and underwriting in the process. With an FHA Streamline Refinance you do not need an appraisal, a credit check, income verification or employee verification, and there is no underwriting fee. Mortgage Refinance Calculator

Basic FHA Streamline Refinance Requirements

• Loan must be an FHA insured loan

• Refinance must lower the principal and interest payments of the previous mortgage

• Mortgage must be current

• Mortgage musty be at least 6 months old

• No Cash Back to Borrower

• No Income Verification Required

• No Employment Verification

• No Pay Stubs or W-2 forms

• No Termite Report

• Borrower must be current on any federal debts

No cost refinances are also available where there is no out-of-pocket expenses to the borrower.  As a result the borrower is charges a higher interest rate on the new loan.