FHA Streamline Refinance Calculator
Calculate FHA Streamline refinance savings, the HUD net tangible benefit (NTB) test, MIP refund, and break-even — instantly, without income docs or appraisal in most cases.
| Current Loan | |
| P&I Payment | — |
| Monthly MIP | — |
| Total Current Payment | — |
| New Streamline Loan | |
| New Loan Amount (incl. UFMIP & closing) | — |
| P&I Payment | — |
| Monthly MIP | — |
| Total New Payment | — |
| Refund & Costs | |
| UFMIP Refund Estimate (Schedule) | — |
| New UFMIP (1.75% of new loan) | — |
| Net UFMIP Cost (new − refund) | — |
How an FHA Streamline Refinance Works
An FHA Streamline Refinance lets you refinance an existing FHA loan into a new FHA loan with reduced documentation — typically no appraisal, no income verification, and no new credit check (called "non-credit-qualifying"). It is one of the simplest refinances available, designed by the U.S. Department of Housing and Urban Development (HUD) to help FHA borrowers benefit from lower rates without re-underwriting. The trade-off is that you can only refinance into another FHA loan, and the new loan keeps FHA Mortgage Insurance Premium (MIP) — including a fresh upfront MIP of 1.75%.
Eligibility under HUD rules requires: at least 210 days since closing on the current FHA loan, at least 6 monthly payments made, no more than 1 late payment in the last 12 months (and none in the last 6), and a "net tangible benefit" — the new loan must save you measurable money. See HUD Handbook 4000.1 for full rules. This calculator runs the NTB test automatically.
The Net Tangible Benefit (NTB) Test
HUD requires that an FHA Streamline produce a net tangible benefit. The exact threshold depends on the loan type. For a fixed-to-fixed refinance, the new combined rate (P&I + MIP) must be at least 0.5 percentage points lower than the current rate. For fixed-to-ARM, the combined rate must drop by 2.0 points. For ARM-to-fixed, the combined rate must not increase by more than 2.0 points (HUD allows it to rise slightly because fixed-rate stability counts as a benefit).
The MIP rate matters because in 2023 HUD reduced annual MIP from 0.85% to 0.55% for most new FHA loans. Borrowers with older loans paying 0.85% MIP can capture both a rate reduction and a 0.30% MIP cut by streamlining — even when underlying mortgage rates are similar to their original rate. This is the main reason FHA Streamline volume surged in 2024-2026.
UFMIP Refund Schedule
FHA refunds a portion of your original Upfront Mortgage Insurance Premium (UFMIP) when you streamline within 36 months. The refund schedule starts at 80% in month 1 and declines roughly 2% per month. By month 36 the refund hits 0%. After 36 months from your original closing, no UFMIP refund applies. The refund is netted against the new UFMIP charged on the streamline (1.75% of the new loan), so the calculator shows your actual out-of-pocket UFMIP cost.
For a side-by-side with conventional refinance options, see the mortgage refinance savings calculator. To see if dropping FHA MIP entirely by switching to conventional makes sense, run our FHA vs conventional comparison.
Streamline vs Cash-Out Refinance
FHA Streamline Refinances are rate-and-term only. You cannot pull cash out beyond a small $500 cushion at closing. If you need cash equity, FHA offers a separate cash-out refinance (with appraisal, full underwriting, and 80% LTV limit), or you can switch to a conventional cash-out at higher rates. Streamline closings typically take 15-30 days versus 30-45 for full underwriting.