Questions & answers
Every question homeowners actually ask about FHA Streamlines.
Plain-language answers, no sales pitch. Each one links to a fuller explanation.
- 01What exactly is an FHA Streamline Refinance?
- 02Why isn't an appraisal required?
- 03How can a refinance work without traditional income qualification?
- 04What is FHA's Net Tangible Benefit requirement?
- 05How long do I need to have my FHA loan?
- 06What happens to my current escrow account?
- 07Why do I get that escrow money back?
- 08When is my first payment on the new mortgage due?
- 09So, what happens to my mortgage payment after closing?
- 10Can closing costs be rolled into the loan?
- 11What are lender credits?
- 12Can lender credits cover my closing costs?
- 13Does refinancing restart my 30-year mortgage?
- 14Can I choose a shorter term?
- 15What are the two ways to use a lower rate?
- 16What happens if I keep making my old payment?
- 17How much interest could I save by keeping the same payment?
- 18How many years could I potentially shave off my mortgage?
- 19Why does paying the same amount at a lower rate accelerate payoff?
- 20What's the catch?
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