FHA Streamline Refinance

FHA Streamline Refinance (Non Credit Qualifying without appraisal)

  • Upside down loans OK
  • No appraisal needed
  • No income verification
  • No credit score requirements
  • Borrower should have made timely mortgage payments for 12 months if owned for  more than 1 yr or 6 months if owned less than 1 yr
  • 1X30 day late in last 12 months OK .However there should be no 30 day lates in last 3 months

These are guidelines as stipulated by HUD.Individual lenders have their own credit overlays based on management/investor decisions.Borrower also has the option to do a full credit qualifying without appraisal loan,generally on more favorable interest rates.



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