Mortgage 101:  What is a FHA Streamline Loan?

Posted on March 8, 2018 · Posted in Connecticut FHA Mortgage, FHA Streamline


When refinancing or applying for a home loan, many terms may be thrown out at you and you might have no idea what they mean!  Your home is one of the biggest investments in your life- you want to make sure you make wise financial decisions.  When speaking with a loan officer about refinance options, they may suggest streamlining your current FHA loan.  Streamlining may be a great way to start off 2017!


An FHA streamline is a popular, quick and easy loan program to lower your present rate. Here’s a few of its great features:


Must have an FHA loan

NO APPRAISAL is required!

Your loan size cannot increase- you will receive a lender credit to offset all closing costs.

Quick turnaround time: streamlines usually takes only about three weeks to close.

A lower rate equals lower monthly payments


Here’s what we’ll need from you:


  • The note from your current mortgage

  • Your most recent mortgage statement

  • Two months of bank statements to show you have enough reserves to make one mortgage payment.

  • Employment Certification: we will have to verify that you are still gainfully employed.

  • Minimum credit score of 580.


If you have more questions about mortgage financing, I am more than happy to help you with your upcoming home purchase or refinance. Feel free to call me for a free consultation.


Thank you,



Michael Meyer
Senior Vice President of Northeast Financial
210 S. Main St Middletown, CT 06457

Company NMLS#117273 



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