FHA Streamline Refinance for Washington Homes
An FHA Streamline Refinance is designed for homeowners with an existing FHA loan who want to lower their interest rate or monthly payment with reduced documentation.
Benefits of FHA Streamline Refinancing
- Limited income documentation
- May not require an appraisal
- Faster processing than standard refinances
- Designed to benefit the borrower
Eligibility Basics
- Must currently have an FHA loan
- Must show a tangible benefit
- Must be current on mortgage payments
Things to Know
- Mortgage insurance still applies
- Cash-out is not allowed
- Not all FHA loans qualify
- Does not have to be primary residence if the property was converted to an investment property.
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