FHA Streamline Mortgage Information

FHA Streamline Mortgage Overview

The FHA streamline program is designed to allow borrowers that are currently in an FHA loan to take advantage of lower interest rates when they are available. Not everyone qualifies for the FHA streamline program, there are 3 main criteria to qualify:

1. You must live in the house
2. You can’t have more than 2 30-day late payments on your mortgage in the last 12 months
3. You can’t participate in the FHA streamline program unless it financially benefits you.  There are costs involved, and the benefits must outweigh the costs.

There are two types of FHA streamline programs – the “FHA streamline with appraisal” and the FHA streamline without appraisal” programs.

To find out if the FHA streamline program can help you lower your monthly payment and put you in a better overall financial situation first think about using an online mortgage calculator, be sure to visit our main FHA refinance streamline mortgage program site or call one of our experts at 888.448.2669.