What is an FHA Streamline refinance?
If you already have an FHA loan, the FHA Streamline refinance program can help you take advantage of today's super low mortgage rates.
The process is much easier than a typical refinance and requires no new appraisal—simply put, it’s streamlined.
How easy is it to refinance your FHA mortgage?
- No income or employment verification required.
- Low closing costs. In many instances streamline refinances can be structured to have low or no closing costs.
- Fast turnaround times. Due to the diminished paperwork requirements, many FHA refinances can be completed in 30 days or less.
- No new appraisal. Even if your home has lost a lot of value, you can still refinance despite negative equity.
- Your mortgage must already be insured by the FHA.
- You must be current on your mortgage payments (no late payment in the prior 12 months).
- The refinance must lower your monthly principal and interest payments, or in some cases make your mortgage more stable by moving from an adjustable-rate to a fixed-rate product.
- Your loan balance may not increase to pay for closing costs or other loan fees.
- You may not have refinanced your mortgage in the past 210 days.
Why choose Total Mortgage?
At Total Mortgage, we have almost 20 years of experience getting our customers the best mortgage possible.
- We have some of the lowest interest rates in the country, and we may be able to save you money on your home payments.
- No pre-payment penalties. Go on, pay your mortgage off as fast as you can. We won’t get cranky about it.
- Our mortgage experts educate you as you move through our process, so you’re never left with questions.
Think a streamline refinance is right for you? Give us a call or fill out the form to the right to learn more.