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FHA loan

FHA Streamline Refinance: Is It Right for You?

Already have an FHA loan? An FHA streamline refinance could help you lower your rate or term.

[Updated: Feb 04, 2021 ] Sep 05, 2020 by Aly J. Yale

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Pros Cons
No income or employment verification required. Requires mortgage insurance.
Credit check may not be required. You must already have an FHA mortgage loan.
The lender may be able to pay your closing costs. You can't take cash out.
You might get an MIP refund if you've had your loan for less than three years.
No appraisal required.

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