Key Benefits of an FHA Streamline refinance

An FHA streamline refinance is a great option for a borrower who wants to "lock-in" a lower rate when market conditions have improved!

For borrowers who currently have an FHA loan but market conditions have improved since they initially closed on the loan, an FHA streamline refinance can be a great option. If the borrower has made at least 6 consecutive on time payments and they are in good financial standing in most cases the lender will not need a new appraisal or a new mortgage credit report. This makes the process fast and low cost. The Up-front mortgage insurance premium is only .55% of the loan amount instead of 1.75% for a typical cash out refinance.

The borrower must receive a tangible net benefit such as a lower monthly payment or possibly changing from an adjustable interest rate into a fixed rate.

The amount of cash that the borrower can receive for this loan is very limited. Usually, cash out can only be used to cover closing costs for doing the loan

Save money and skip the stress!   With no appraisal, minimal paperwork, and the potential to lower your monthly payments, this is one of the fastest and easiest ways to refinance your home!

Who is an FHA Streamline good for?

• FHA Borrowers in good standing wanting to lock in a lower monthly payment.

• FHA borrowers who have an adjustable rate but wish to lock in a fixed rate.

• FHA borrowers who want to lower their rate without paying high fees or enduring a long, detailed loan process.

Special Features of an FHA Streamline Refinance

• No Appraisal Needed: Refinance without worrying about your home's current market value.  
• Minimal Documentation: No income or employment verification required in most cases.  
• Fast Processing: Streamlined steps mean a quicker path to lower monthly payments.   
• No Out-of-Pocket Closing Costs: You can roll closing costs into the loan balance, making it easier to refinance without upfront expenses.   

At Groves Capital, we know life is busy—especially for families. That’s why we use the latest technology to make your FHA streamline refinance as convenient as possible.

 Apply online anytime (yes, even in your underwear!), securely submit documents, and communicate with us through chat or text whenever it fits your schedule.

But convenience doesn’t mean sacrificing personal service. As a real person based right here in Columbus, Ohio, I’m available if you need to stop by, call, or have a face-to-face conversation. No call centers, no overseas reps—just local expertise and a commitment to helping you save time and money.