What is a “Streamline” Seattle 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 Blue Square Mortgage 4212 33rd Ave W Seattle, WA 98199 206-352-6453 Hours: Monday-Friday 7am-6pm https://www.google.com/maps?cid=1728001048712065545 https://local.google.com/place?id=1728001048712065545&use=posts&lpsid=7886215457930268883