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.
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.
Frequently Asked Questions
Can I take cash out?
No. Streamline is rate-and-term only. For cash-out, do FHA cash-out refi (different program, requires appraisal).
Can I shorten term?
Yes. 30 → 15-year saves long-term interest. Higher monthly payment but cuts decade off + saves $100k+ interest typical.
Need 6-month seasoning?
Yes. Must have made at least 6 payments on existing FHA loan. Some lenders 12 months for best pricing.