The FHA Streamline Refinances Program was initiated in the early 1980’s to help borrowers with FHA loans take advantage of lower interest rates. At Best FHA Lender, we typically have the lowest FHA mortgage rates available.
The Best FHA Lender streamline refinance requires very minimal borrower qualifying and documentation.
Best FHA Loan applications can usually be processed and closed very quickly. We mainly need to demonstrate that your interest rate or payment is going down and that there is certain financial benefit.
The basic requirements of a streamline refinance are:
- The mortgage to be refinanced must already be FHA insured.
- The mortgage to be refinanced should be current (not delinquent).
- The refinance is to result in a lowering of the borrower’s monthly principal and interest payments.
- No cash may be taken out on mortgages refinanced using the streamline refinance process.
Generally the loan application needs only to list the standard borrower and property information but should not include employment, income, assets or any liabilities aside from the mortgage being paid off and any mortgage being subordinated. So the following is not needed when you choose to streamline:
- no paystubs
- no w2’s
- no tax returns
- no bank statements
- no appraisal
The Best FHA Lender Streamline Refinance Program is simple and fast.
Contact me today to get started. Use the contact form on the left-hand side of the site, email me at slines@bestfhalender.com or call me at 480-344-3662.
