What is FHA Streamline Refinance?



The FHA Streamline Refinance is a special mortgage product, reserved for homeowners whose existing mortgages are FHA-insured.

There is no income verification, no employment verification, and no credit history required. All that the FHA requires is that you've paid at least 6 payments on your current mortgage; that those payments have been made on-time; and that your mortgage has a "purpose".

With limited verifications, the FHA Streamline Refinance approval process moves quickly.

But, for all of its waived verifications, the FHA Streamline Refinance program's defining characteristic is that it does not require a home appraisal. Instead, the FHA assigns your original home purchase price as your home's current value, regardless of for what your home would appraise today.

In this way, similar to HARP 2.0, the FHA Streamline Refinance allows for mortgages with unlimited loan-to-value. No matter how far underwater you are on your home, the FHA will refinance you without cost or penalty.

Even better is that FHA Streamline Refinance mortgage rates are as low as "regular" FHA mortgage rates and, right now, FHA mortgage rates are approaching 3 percent.

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Mega Title, LLC

721 Route 34, Suite 3
Matawan, NJ 07747
Phone: 732-242-9835
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  • Samah and her team at Mega Title were efficient and professional in
    handling our refinance closing. I had used them in a prior refinance
    and was so impressed with the attention to detail that I came back
    this time again. They are accomodating to your schedule, meet the
    deadlines so they don't waste your time and most of all treat you as
    if you are their most important customer at all times. I couldn't ask
    for better service - they took care of everything. Just had to show
    up and sign.
  • As a real estate attorney, I have dealt with numerous title companies.
  • I recently refinanced my home. Mega Title really made my life much easier.
  • I really appreciated the excellent service and caring attitude during my refinance.
  • I can't express how impressed I am with your customer service!

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