FHA Streamline Refinance: Your Fast-Track Refi Option for FHA Loans
In this guide, we’ll explain exactly how FHA streamline refinancing works, who it’s best for, and when it makes more sense than a conventional rate-and-term refinance.
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What Is an FHA Streamline Refinance?
- Reduce your interest rate or switch from an adjustable rate to a fixed rate
- In most cases, avoid an appraisal, income verification, or credit check for non-credit qualifying refis
- Get a faster refi process, getting your savings locked in faster than another refi option.
Quick Answer
An FHA streamline refinance bypasses most of the paperwork and underwriting of a traditional refinance. You can refinance your existing FHA loan to a lower rate fast, as long as it delivers a “net tangible benefit” like a lower rate or a stable fixed payment.
Why Consider an FHA Streamline Refinance?
Here’s why homebuyers choose FHA streamline refinance:
Reduce Monthly Mortgage Payments
Typically, borrowers who choose an FHA streamline refinance do so to lock in a lower interest rate, which reduces their overall mortgage cost and monthly mortgage payments.
Close Quicker than a Conventional Refinance
An FHA streamline requires less documentation than a conventional refi, meaning you can access your refi savings faster.
Pro Tip
A streamline refi is ideal if you’re already in an FHA loan, rates have dropped, and you want to save without new underwriting hassles.
FHA Streamline Refi Eligibility Requirements in 2025
Existing FHA Mortgage
Your current mortgage must be an FHA loan to qualify
Net Tangible Benefit
Your streamline must either reduce your payment by ≥ 0.5% or switch you from an adjustable-rate to a fixed-rate.
Waiting Period
You must have more than six on-time payments, be more than six months past your first payment, or be more than 210 days past your original closing date.
Clean Payment History
Your last three mortgage payments must have been on time, and there are various limits for late payment depending on the time since the loan’s origination.
Compare FHA Streamline Refinances to a Conventional Rate & Term Refi
FHA Streamline Refi
Conventional Rate & Term Refi
Should you refinance?
Refinancing can help you save on your mortgage or turn equity into cash in your pocket. Plug in your info below to see your options.
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The UMortgage mortgage calculators are for estimation purposes only. This is not a commitment to lend. For an exact quote based on your individual financial circumstances, please contact us.
How to Apply for an FHA Streamline Refi
Check Your Loan Balance & Recent Payments
Make sure you have made the minimum required on-time payments and have passed the waiting period to qualify.
Connect With a UMortgage Loan Originator
Your UMortgage Loan Originator will help you find your best option and walk you through the application process.
Confirm Net Benefit
Your UMortgage LO will run the numbers to ensure your new payment is at least 0.5% lower or your loan term is optimized.
Lock Your Rate and Close
Most FHA streamline refinances close in weeks thanks to reduced underwriting guidelines.
Frequently Asked Questions about FHA Streamline Refinances
Answers to some of the most common questions we get about FHA streamline refis.
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