FHA Streamline Loan

FHA streamline loans can help to lower monthly mortgage payment and interest rates, and are designed for those who are currently in an FHA mortgage.

How Do I Qualify?

With an existing FHA mortgage in place, you have already qualified for an FHA streamline loan because you have proven you are a good credit risk. Therefore, debt-to-income ratio does not need to be calculated. However, it is always a good idea to recheck your finances for your own personal satisfaction.

Will I need an appraisal?

With an FHA streamline loan, you do not need to have an appraisal done on your home, because the original appraisal will be used to calculate the loan amount. However, the new FHA streamline loan cannot exceed the original borrowed amount.

There is an option to have your property reappraised so that you can qualify for a larger amount in cases where property values have increased, but be certain what you would like to do before beginning the application to keep the process hassle-free.


Requirements for an FHA streamline loan include:

  • Current and on-time mortgage payments on the existing loan for the last year
  • At least six months of ownership of the original property
  • An FHA-approved lender
  • Closing costs paid up front, or a "no-cost" FHA Streamline Loan, which cannot exceed the current loan.

You can learn more on how to prepare for an FHA streamline loan on FHA.gov.