The FHA/VA Streamline Refinance loan product allows eligible FHA and VA homeowners to refinance their existing FHA or VA loan to reduce their current monthly mortgage payment. For FHA loans, the new loan can only include the outstanding principle balance minus any applicable refund of the Upfront Front Mortgage Insurance Premium (UFMIP) plus the new UFMIP, up to a maximum amount of 97.75% of the original appraised value. For VA loans, the new loan can only include the existing VA loan balance, allowable fees and charges, up to two discount points, and the VA funding fee. Click here to learn more.
Contact: Kate Newton
Additional Information: Average length of service is 30 years