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The FHA Streamline Refinance

FHA has permitted streamline refinances on insured mortgages since the early 1980's. The "streamline" refers only to the amount of documentation and underwriting that needs to be performed by the lender. American Heritage Lending can customize your FHA Streamline to provide you a “No Cost” solution. The basic requirements of a streamline refinance are:

  • The mortgage to be refinanced must already be FHA insured.
  • The mortgage to be refinanced should be current (not delinquent).
  • The refinance is to result in a lowering of the borrower's monthly principal and interest payments.
  • No cash may be taken out on mortgages refinanced using the streamline refinance process.

In order to qualify for an FHA streamline, you need to be in an FHA loan and be current on your mortgage payments. It’s that easy. Most streamlines only take about 3 weeks to complete from start to finish and is the easiest and most cost effective loan you can complete to lower your rate and payment.

Though lenders don’t use your credit report to qualify you for the FHA Streamline program, they will use your FICO score to determine what rate they will offer you. American Heritage Lending is able to offer FHA streamline loans to all credit types, from the best scores in the 800’s to the lowest scores in the 400’s.

FHA now requires that we verify your employment. This means at least one person on the current mortgage note must be employed. FHA DOES NOT require us to calculate your income and determine your capacity, we just need to show you are currently employed and receive income; the amount of income is not reviewed.

What makes the FHA streamline extremely valuable in today’s market is the fact you are not required to complete an appraisal and equity is not reviewed. This means we are able to provide opportunity through the FHA streamline program to all borrowers who are upside down on their homes and have no equity who traditionally cannot complete a refinance and lower their rate and payment.

If you have an FHA insured mortgage and you are current on your payments, then American Heritage Lending can help you lower your monthly payment with minimal documentation. We provide opportunity to FHA borrowers by providing a simple process to complete your FHA Streamline that is quick, transparent, and requires minimal documentation. We specialize in FHA Streamlines and since this is our premier product, we are FHA Streamline experts. You can be assured you are getting the best rate in today’s market. You will experience a level of professional service – radically different from “industry norm”. Through Integrity, Honesty, and Professionalism, we provide opportunity to our clients. Please call us today to see how we can provide opportunity to you.