FHA Streamline Refinance 2027 Calculator

Calculate FHA streamline refinance savings 2027 — no appraisal, no income verification, must net tangible benefit. 0.5%+ rate drop typical break-even.

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FHA Streamline Rules

No appraisal. No income docs. Must already have FHA loan. Must achieve 5%+ payment reduction OR convert ARM to fixed (tangible benefit).

Why It's Cheap

Bypasses underwriting (lender risk lower because FHA insures). Closing costs $1,500-3,500 vs $7-15k for conventional refi. Can roll closing into loan.

Mortgage Insurance

Still pay 1.75% upfront MIP. Annual 0.55% MIP. If existing loan endorsed pre-May 2009, refund of unused upfront MIP applies.

Best When

Rates dropped 0.5%+ since you got FHA loan. Want to remove ARM risk. Currently making payments, no recent late.

Source: hud.gov FHA Streamline Refinance program guidelines. Last updated: May 2026.