FHA Streamline Refinance
Refinance Your FHA Loan Without an Appraisal or Income Docs
If you already have an FHA loan, the FHA Streamline is the fastest path to a lower rate. No new appraisal. No income verification. No employment check. Just lower monthly payments — with a partial refund on the upfront MIP you originally paid.
Today's Streamline Rate
5.875%
/ 6.6% APR
No AppraisalRequired
No Income DocsRequired
14-21 daysTypical Close
In this guide
Why FHA Streamline Beats Every Other FHA Refi
If you already have an FHA loan, FHA Streamline is the cheapest, fastest, lowest-friction way to drop your rate. Most FHA borrowers leave money on the table by going through a regular refinance. Here's what makes Streamline different.
No New Appraisal
FHA waives the home appraisal. Saves you $500-$800 and 1-2 weeks. Works even if your home dropped in value since you bought.
No Income Documentation
The "non-credit qualifying" version skips pay stubs, W-2s, and tax returns entirely. Lender only verifies 12 months of on-time FHA loan payments.
Partial UFMIP Refund
If you Streamline within 36 months of closing your current FHA loan, you get back a portion of the 1.75% upfront MIP you paid. Refund schedule scales by how recent the original close was.
14-21 Day Closings
No appraisal, no income underwriting, minimal title work. Most Streamlines close in 2-3 weeks.
ARM-to-Fixed Allowed
Got an FHA ARM that's about to adjust? Streamline lets you lock to fixed, even if the new fixed rate is higher than your current ARM. Net tangible benefit covers this case.
Soft Credit Check Option
The "non-credit qualifying" version doesn't pull credit at all (lender only verifies payment history). The "credit qualifying" variant pulls credit but with more lenient standards.
Are You Eligible? The 6 Streamline Checks
FHA Streamline has tight eligibility rules. Pass all six and you qualify.
You already have an FHA loanStreamline refinances an existing FHA loan only. Non-FHA borrowers use FHA Cash-Out instead.
Net tangible benefit (lower payment OR ARM-to-Fixed)FHA requires the new loan to either lower your combined principal, interest, and MIP payment by 5%+ OR convert from ARM to fixed.
You've had your current FHA loan at least 210 daysPlus 6 monthly payments. The 210-day clock starts from your first scheduled payment date.
12 months of on-time paymentsNo 30-day lates in the past 12 months. Lender may make exceptions for 1 late with documented explanation.
Primary residence (most cases)Streamline is primarily for owner-occupied homes. Investment-property FHA Streamlines exist but are limited and harder to find.
Closing costs paid out-of-pocket OR via lender creditUnlike VA IRRRL, FHA Streamline does NOT allow rolling closing costs into the new loan. Many lenders offer "no-cost" Streamlines via slightly higher rate + lender credit.
Free · 24-Hour Turnaround
Get Your FHA Streamline Quote
A licensed FHA loan specialist will call within 24 hours with your Streamline savings estimate. No credit pull on the first call.
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A licensed FHA specialist will call you with today's Streamline pricing matched to your file.
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☎ (877) 870-0007How Much Could You Save with a Streamline?
Enter your current FHA loan balance and rate. We'll show your potential monthly and 5-year savings at today's Streamline rate.
Current P&I
$0
New P&I
$0
Monthly Savings
$0
5-Year Savings
$0
The Upfront MIP Refund
When you Streamline within 36 months of your original FHA close, you get back a portion of the 1.75% upfront MIP you paid. Most borrowers don't know this exists.
Within 12 months
You get back about 80% of your original Upfront MIP. On a $350K loan that's roughly $4,900 credited toward your new UFMIP.
Months 13-24
Refund drops to roughly 50%. Still a meaningful credit — about $3,000 on the same $350K loan.
Months 25-36
Refund decreases monthly to roughly 20% by month 36. After 36 months, refund hits zero.
The refund is applied as a credit toward your NEW Upfront MIP — it doesn't come to you as cash. But it can dramatically reduce your new loan balance. We'll calculate the exact refund based on your original closing date.
FHA Streamline vs. FHA Cash-Out vs. Conventional Refi
If you already have an FHA loan and just want to lower your rate, Streamline wins. Here's why.
| Factor | FHA Streamline This Page | FHA Cash-Out | Conventional Refi |
|---|---|---|---|
| Appraisal required | No | Yes | Yes |
| Income verification | No (non-credit qualifying) | Yes | Yes |
| Credit pull | Optional (non-credit qualifying) | Hard pull, 580+ | Hard pull, 620+ |
| Upfront MIP refund eligible | Yes, if within 36 months | No | N/A (PMI instead) |
| Take cash out | No | Yes, up to 80% LTV | Yes, up to 80% LTV |
| Roll closing costs into loan | No (out-of-pocket OR lender credit) | Yes | Yes |
| Mortgage insurance | MIP continues (existing) | MIP continues | PMI drops at 78% LTV |
| Typical close time | 14-21 days | 30-45 days | 21-35 days |
| Best for | Existing FHA borrowers wanting lower rate | Cash for renovation, debt consol | 20%+ equity + dropping FHA MIP forever |
Note: If you have 20%+ equity in your FHA home, refinancing to Conventional usually saves more long-term than a Streamline. We model both at quote time.
Pros & Cons of FHA Streamline
For most existing FHA borrowers seeking a rate drop, Streamline wins. A few situations favor going Conventional instead.
Pros
- No new home appraisal — saves $500-$800 and 1-2 weeks
- No income documentation (non-credit qualifying version)
- No employment verification
- 14-21 day typical closings
- Partial Upfront MIP refund if within 36 months of original close
- Soft credit check option (non-credit qualifying)
- ARM-to-Fixed conversion allowed even with higher fixed rate
- Mobile notary closing — sign at home
- Cannot be denied due to underwater home value
Cons
- Must already have an FHA loan (no conversion from Conventional / VA)
- Cannot take cash out
- Cannot roll closing costs into the loan (out of pocket OR lender credit)
- MIP continues for the life of the new loan (if under 10% original down)
- 210-day seasoning required from first payment date
- Net tangible benefit rule: must lower combined PI+MIP payment by 5%+
- Lender overlays may add credit-score floors above FHA's minimum
- If equity is over 20%, refinancing to Conventional often saves more long-term
FHA Streamline FAQ
The most common questions from FHA borrowers considering a Streamline.
Do I really not need an appraisal?
Correct. FHA waives the appraisal entirely for Streamlines. Your existing FHA appraisal (from when you bought) is what counts. This is huge if your home has dropped in value — a regular refi would require you to bring cash to closing, but Streamline doesn't care.
What's the difference between "credit qualifying" and "non-credit qualifying" Streamline?
The "non-credit qualifying" version skips the credit check entirely. The lender only verifies 12 months of on-time payments on your current FHA loan. The "credit qualifying" version pulls credit AND verifies income, used when the borrower has been on the loan less than 12 months OR has had late payments. We use non-credit qualifying when possible because it's faster.
How does the Upfront MIP refund work?
When you originally closed your FHA loan, you paid 1.75% Upfront MIP (financed). If you Streamline within 36 months, FHA refunds a portion of that paid Upfront MIP as a credit toward your new Upfront MIP. Refund tiers: ~80% in months 1-12, ~50% in months 13-24, declining to ~20% by month 36. After 36 months, no refund. We calculate the exact refund based on your original closing date.
Can I roll closing costs into the new loan?
Generally no — this is the biggest difference vs. VA IRRRL. FHA Streamline requires closing costs to be paid out-of-pocket OR offset by a lender credit (slightly higher rate in exchange for the lender paying costs). We often quote "no-cost" Streamlines using lender credits, so you bring $0 to closing but have a slightly higher rate.
Does my MIP go away after a Streamline?
No. If your original FHA loan was issued with less than 10% down (most are), MIP stays for the life of the new Streamline loan too. The only way to drop FHA MIP is to refinance into a Conventional loan once you have 20%+ equity. We routinely model that alternative.
How long after my FHA loan can I Streamline?
You must wait 210 days from your FIRST payment date AND have made at least 6 monthly payments. Most borrowers hit both rules around month 7 from original closing.
Can I do a Streamline if my home is now a rental?
Limited. FHA Streamline is intended for primary residences. There IS an FHA Streamline for investment properties but it's available only at a small set of lenders and the rate is higher. Talk to us — we can usually find a path.
How fast can OnPoint close my FHA Streamline?
14-21 days is typical. We've closed in as little as 10 days. The bottleneck is usually title work refresh and the 3-day Closing Disclosure review window mandated by federal law — not underwriting time.
Get a Streamline Quote in 24 Hours
Free FHA Streamline analysis. No credit pull on the first call. We'll calculate your exact MIP refund, model the no-cost vs. low-rate paths, and tell you straight if Streamline beats refinancing to Conventional for your file.
☎ (877) 870-0007Mon-Fri 8am-7pm PT · Sat 9am-3pm PT · Licensed in 9 states · NMLS #2134550
Terms & Conditions: FHA Streamline rates shown are illustrative based on 740 FICO, existing FHA loan, single-family primary residence, 30-year fixed. Actual rate depends on payment history, credit (if credit-qualifying), property type, loan amount, and current market conditions at lock time. APR includes estimated closing costs and is for comparison purposes. Upfront MIP refund schedule per HUD Handbook 4000.1 declines monthly from 80% (month 1) to 0% (month 36). Annual MIP continues at existing rates (0.55% standard) for the life of the new loan if original down payment was less than 10%. Net tangible benefit requirement: combined principal, interest, and MIP payment must decrease by at least 5% OR conversion from ARM to fixed rate. Subject to credit and program approval. OnPoint Mortgage Pro is a licensed mortgage broker; NMLS #2134550. Equal Housing Lender.