The exact term used is to “streamline” refinances on a mortgage, but there are 4 criteria in order to be eligible for this type of mortgage offer by the FHA.


 

  • The mortgage you are looking to refinance has to already be insured by the FHA.


  • The mortgage you are trying to refinance should be in good standing and not delinquent.


  • Refinancing the mortgage will lower the monthly payments on both the interest and the principal


  • If you are successful in obtaining streamline refinancing you cannot take cash out on the refinanced mortgage.

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    For more details on the streamlining your mortgage program.

    A list of approved lenders near you.

     
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