Streamlined Refinance

A Streamline Refinance allows you to speed up the refinance process and may make it possible to reduce your loan term or qualify for a lower interest rate. And just as with a mortgage loan, you may be qualified for a government-backed VA Interest Rate Reduction Refinance Loan (IRRRL) or FHA Streamline Refinance.

Streamline refinancing is a mortgage refinancing process in the United States for federal housing administration (FHA) mortgages that reuses the original loan’s paperwork allowing quicker refinancing. The program was introduced by the FHA as a way to speed up the home refinancing process.

The Home Affordable Refinance Program (HARP) has been extended through Dec. 31, 2018 in conjunction with updates to the High LTV Streamlined Refinance program, the Federal Housing Finance Agency (FHFA.

To make the streamlined refinance process simple and efficient, you won’t have to submit piles of paperwork to get approved. We’ll clearly outline the little bit of documentation we do need to get you on your way.

As HUD states, a Streamline Refinance "refers only to the amount of documentation and underwriting that the lender must perform, and does not mean that there are no costs involved in the transaction."

IRRRL stands for Interest Rate reduction refinancing loan. You may see it referred to as a "Streamline" or a "VA to VA." These loans are typically used to reduce the borrower’s interest rate or to.

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Answer: You may have a better chance to refinance with your current lender. If you have an FHA-insured loan, look into a “streamline refinance.” Still, your recent history of late or no payments on.

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When refinancing from an existing VA ARM loan to a fixed rate loan, the interest rate may increase. No lender is required to give you an IRRRL, however, any VA lender of your choosing may process your application for an IRRRL. Veterans are strongly urged to contact several lenders because terms may vary.

3. Streamline Refinance Borrower and Property Related Requirements, Continued 4155.1 6.C.3.c Borrower Additions or Deletions to the Title on a Streamline Refinance Individuals may be added to the title on a streamline refinance without a creditworthiness review, and triggering the due-on-sale clause.

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