FHA Streamline Refinance Guide

FHA Streamline Quick Guide
Quick Start Guide

FHA Streamline
in 4 Steps

Your fast-track guide to refinancing with confidence

1
Check Eligibility
Verify you qualify
  • Made 6 payments on existing FHA loan
  • 210+ days since original closing
  • Clean payment history (max 1 late)
  • Loan is current this month
2
Calculate Amount
Determine your new loan
  • Start with outstanding balance
  • Add interest + MIP (if owner-occupied)
  • Subtract UFMIP refund
  • Round down to nearest $50
3
Prove Benefit
Show rate improvement
  • Fixed to Fixed: 0.5% reduction min
  • Fixed to ARM: 2.0% reduction min
  • ARM to Fixed: Within 2% above
  • Or reduce term with ≤$50 payment increase
4
Submit & Close
Finalize your refinance
  • No appraisal required (most cases)
  • Minimal documentation needed
  • Cash back limited to $500
  • Closing costs cannot be financed
Key Numbers

Important Limits

These are the critical thresholds you need to know

$500
Max Cash Back
At Closing
6
Payment History
Required Months
210
Days Minimum
Since Closing
60
Days Interest
Maximum Included
Example

Sample Calculation

See how the numbers work in a real scenario

💰 Loan Amount Breakdown

Outstanding Principal Balance $245,000
+ Interest Due (60 days max) $2,450
+ MIP Due The FHA Streamline Refinance Guide | Robert Castle Mortgage Broker