If you currently have an FHA mortgage, an FHA Streamline Refinance may offer a way to improve your loan terms with less documentation than a standard refinance. Barren Hill Mortgage can review your current loan and help determine whether you qualify.

What Makes It Different?

FHA Streamline refinancing generally involves limited underwriting, and an appraisal is typically not required. Documentation depends on whether the loan is credit qualifying and on the lender’s requirements.

Key Requirements

• Your existing mortgage must be FHA insured.

• Payment history and loan seasoning rules apply.

• The refinance must meet FHA’s net tangible benefit requirements.

• The program is not designed to provide cash out.

Understand the Costs

Streamline does not mean free. Closing costs and FHA mortgage insurance still need to be evaluated. Financing options for costs are limited, and lender credits may involve a higher interest rate.

See Whether You Benefit

We’ll compare your existing payment with the proposed loan, including mortgage insurance and costs.