FHA Streamline Refinance Utah
The fastest, easiest way to refinance your FHA loan
Lower your rate and monthly payment with minimal paperwork—designed exclusively for current FHA borrowers.
Get Your FHA Streamline Quote
What is FHA Streamline Refinancing?
The FHA Streamline Refinance is a simplified refinancing program exclusively for homeowners who currently have an FHA loan. Created by the Federal Housing Administration, this program is designed to reduce paperwork, speed up processing, and help you secure a lower interest rate with minimal hassle and documentation requirements.
Two Types of FHA Streamline
Credit Qualifying Streamline
Requires credit check and some documentation
You can:
- ✓Add or remove borrowers from the loan
- ✓Roll closing costs into the loan
- ✓Receive cash back at closing (up to $500)
Best for borrowers with good credit who need flexibility
Non-Credit Qualifying Streamline
No credit check required—fastest option
Perfect if:
- ✓You're keeping the same borrowers
- ✓You want the absolute fastest process
- ✓You have solid payment history
Best for borrowers who want maximum speed and simplicity
Benefits of FHA Streamline Refinancing
Discover why FHA Streamline is the preferred choice for current FHA borrowers
Simplified Application
Significantly less paperwork and documentation compared to traditional refinancing—designed for speed.
No Appraisal Required
In most cases, you won't need a new home appraisal, saving you time and approximately $500 in fees.
No Income Verification
For non-credit qualifying streamlines, typically no need to verify employment or income documentation.
Lower Closing Costs
Reduced fees compared to standard refinancing, and you can often roll costs into your new loan.
Faster Processing
Close in as little as 30 days or less—one of the fastest refinancing options available.
Lower Monthly Payment
Reduce your monthly mortgage payment by securing a lower interest rate and improved loan terms.
FHA Streamline Eligibility Requirements
Here's what you need to qualify for FHA Streamline refinancing
Basic Requirements:
You must currently have an FHA-insured mortgage
You've made at least 6 payments on your current FHA loan with no late payments in past 6 months
At least 210 days have passed since your first payment on the existing loan
The refinance must provide a real benefit—lower monthly payment or more stable loan terms
The property must be your primary residence (no investment properties for streamline)
What is "Net Tangible Benefit"?
The FHA requires that your new loan provides a clear benefit. This typically means:
- • At least 5% reduction in monthly principal & interest payment (for fixed to fixed)
- • Switching from adjustable-rate to fixed-rate mortgage
- • Reducing the term of your loan while maintaining similar payment
The FHA Streamline Process
Here's what to expect when you refinance with FHA Streamline
Application
Quick online or phone application with minimal documentation required
Processing
Lender reviews your loan details and verifies eligibility—typically 1-2 weeks
Underwriting
Final approval from underwriter—streamlined process takes just days
Closing
Sign documents and start enjoying your lower payment—often in 30 days or less
Ready to Streamline Your FHA Loan?
Get a free FHA Streamline refinance quote from Tom Turner. Discover how much you could save with less paperwork and faster processing.
FHA Streamline Frequently Asked Questions
Non-credit qualifying streamline doesn't require a credit check or income verification—it's faster but you can't add/remove borrowers or get cash back. Credit qualifying requires a credit check but offers more flexibility, like adding a spouse to the loan or rolling closing costs into the loan amount.
In most cases, no appraisal is required for FHA Streamline refinancing. The FHA allows lenders to use the original purchase price or existing appraised value, which saves you time and approximately $500 in appraisal fees.
If your original FHA loan was before June 2013, you may be able to remove mortgage insurance after refinancing, depending on your loan-to-value ratio and when you refinance. For loans after June 2013, mortgage insurance typically stays for the life of the loan or 11 years minimum.
Savings depend on your current rate and the new rate you qualify for. The FHA requires a minimum 5% reduction in your monthly payment for fixed-to-fixed refinances. For example, on a $300,000 loan dropping from 6.5% to 5.5%, you'd save about $175/month or $2,100/year.
You must have made at least 6 payments with no late payments in the past 6 months, and no more than one late payment in the past 12 months. A solid payment history is essential for FHA Streamline approval.
Closing costs are typically lower than traditional refinancing, usually 2-5% of the loan amount. With credit qualifying streamline, you can often roll these costs into your new loan amount. Costs include origination fees, title insurance, recording fees, and prepaid items.
FHA Streamline is one of the fastest refinancing options available, typically closing in 30 days or less. The streamlined documentation and minimal requirements significantly speed up the process compared to traditional refinancing which can take 45-60 days.