What Is The Streamline Refinance Program?

The Streamline Refinance program benefits the homeowner by reducing their monthly payments and interest paid. Your loan terms remain the same and there is no prepayment penalty with any FHA loan.  FHA (Federal Housing Administration) invented the streamline process and encourages homeowners to take advantage of it whenever possible. 

I Have Owned My Home For Less Than a Year. Can I Refinance?

You are eligible for the Streamline Refinance after you have made six monthly payments and 211 days have passed from the date you purchased your home. You can take advantage of this program whenever interest rates come down, and yes, you can Streamline Refinance multiple times to take advantage of the market's lower rates.

What Documents Must I Provide?

Each borrower on the existing loan must provide evidence of:
1.     Government Issued ID – Driver's License, Passport or Green Card
2.    Social Security Card
3.    Paystub
4.    Utility Bill – Must show one borrower residing in the property 

Current loan items needed:
1.     Mortgage Note – From the original transaction
2.    Mortgage Statement
3.    Copy of Hazard Insurance Declaration Policy

What Credit Score Is Needed For This Streamline Refinance Program?

The minimum middle credit score for a qualifying borrower is 680. We are always happy to examine your specific profile(s) free of charge and will offer guidance to get you the best rate available.