What is a “Streamline” San Diego Refinance? Streamline refinancing applies to existing FHA loans. These loans are FHA-insured and issued by Federal Housing Administration approved lenders. Furthermore, they were created to accommodate low to medium income earners and require lower credit scores and a smaller down payment. You can refinance an existing FHA mortgage to an ARM or fixed-rate mortgage with a streamline refinance. However, qualifying for streamline refinancing of an FHA-insured loan can be difficult. In order to qualify you have to meet the following criteria: • $500 is the maximum amount you can take out with a streamline refinance • refinancing your mortgage must provide you with a net tangible benefit (for example, it must show that you will benefit from a lower interest rate, reduced mortgage term, or both) • your mortgage cannot be delinquent (in other words, it must be current) • your mortgage must be FHA-insured Furthermore, streamline refinances are available in two forms: • Credit qualifying – the lender runs a credit check and the borrower provides credit documentation and income information • Non-credit qualifying – the lender doesn’t run a credit check Community Mortgage 814 Morena Blvd #310 San Diego, CA 92110 (619) 692-3630 https://www.google.com/maps?cid=10479155514255890680 https://local.google.com/place?id=10479155514255890680&use=posts&lpsid=4677205270933018698