FHA streamline refinance

FHA streamline refinancing is a great option for home owner's to decrease their interest rates and monthly payments and most of the times without an appraisal but no-appraisal loans cannot exceed your current loan. To qualify for a FHA refinancing you must have a FHA insured mortgage. The loan on which you are refinancing must be current and with good standing and must have been opened 6 months prior to refinancing.

For a FHA refinance you don't need any income verification or any other fund verifications. Also it does not require any credit reports. You can also increase or decrease the period of the loan. The extra cost can be covered by the lender by slightly high interest rates or by adding the amount to the current loan if there is sufficient equity in the home.