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Some lenders have overlay rules and some do not. The FHA minimum says that after you have made at least 6 mortgage payments and there is enough benefit to do this, you are able to begin the Streamline.
For an FHA Streamline Refinance that replaces a loan endorsed prior to June 1, 2009, the new FHA mortgage’s upfront mortgage insurance is equal to 0.01 percent of the loan size, or 1 basis point.
My wife and I are trying to do a FHA Streamline Ref. We have a FHA loan through VHDA (Virginia). We have lived in this house for 5 yrs and never once been late. We want to take advantage. of the low.
FHA does not allow lenders to include closing costs in the new mortgage amount of a streamline refinance. Investment properties (properties which the borrower does not occupy as his or her principal residence) may only be refinanced without an appraisal.