FHA Streamline
Why isn't an appraisal required?
Because the transaction is generally not based on establishing your home’s current market value.
A traditional refinance usually needs a new appraisal because the lender is re-evaluating your home's value and your equity position. An FHA Streamline is structured differently — it's generally based on your existing FHA loan and payment history rather than a fresh valuation. This is one reason the process can move faster and with less paperwork, though your lender may still order a value estimate for internal purposes depending on the transaction.
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