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How to Save BIG by Refinancing
your FHA Mortgage w/ Interstate

IT’S CALLED A STREAMLINE REFINANCE…
AND IT’S INCREDIBLY SIMPLE! …    Read More

APPLY TODAY FOR AN FHA STREAMLINE REFINANCE
REFINANCING

FHA has permitted streamline refinances on insured mortgages since the early 1980s. “Streamline refinance” refers only to the amount of documentation…

PURCHASING

FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal…

MORTGAGE LETTER

This Mortgagee Letter (ML) communicates the revised lower annual MIP rates…

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FREQUENTLY ASKED QUESTIONS

What is an FHA Streamline Refinance?   What if my property is “Underwater”?  Can Interstate still help me?

YES! Interstate Home Loan Center can help you.  The FHA Streamline Refinance program is a special refinance program for people who have a Federal Housing Administration (FHA) loan. It is the simplest and easiest way to refinance an FHA loan. Unlike a traditional refinance an FHA Streamline Refinance allows a borrower to refinance without having to verify their income and assets. An appraisal might not be required either depending on how much you have paid on your original loan balance.

One of the most advantageous aspects of this program is that it allows for an unlimited loan-to-value ratio (LTV). Even if you are severely underwater you still may be able to take advantage of record low mortgage rates by refinancing with an FHA streamline.

What are the basic requirements for an FHA Streamline Refinance?

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 results in a lowering of the borrower’s monthly principal and interest payments, or, under certain circumstances, the conversion of an adjustable rate mortgage (ARM) to a fixed-rate mortgage.
  • No cash may be taken out on mortgages refinanced using the streamline refinance process.

I have a 15 year fixed FHA loan, can I refinance to a 30 year loan?

YES, with a 15 year loan (variable or fixed) you can refinance to a 30 year loan (variable or fixed). Contact Interstate today to get started on your FHA Streamline refinance by clicking the button below.

APPLY TODAY FOR AN FHA STREAMLINE REFINANCE