Applying for the FHA Streamline Refinance

FHA Streamline Refinance

Documents Needed

Here is a list of the most commonly requested documents to apply for FHA Streamline Refinance program:

  • Copy of your Driver License and Social Security Card (200% normal size please, for all applicants)
  • Copy of your current mortgage note (from the package of papers you received at closing when you bought the home, usually around 3 pages)
  • Copy of your current homeowner’s insurance policy – the ‘declaration page’ more specifically
  • Invoice or statement for your current Homeowner’s Association Dues showing amount and frequency of payments
  • Copy of your most recent 2 months’ bank statements (all pages please)
  • Copy of your home/land survey from when you purchased the home

The Approval Process

After receiving your documentation, your initial loan disclosures will be prepared and sent via e-mail or hand delivery to the address provided on the application.  Your mortgage broker will go over all of the facts and figures with you to make sure the refinance is a good fit for you and your family. Once you’ve signed those documents, your loan will be submitted to processing, where they will review your file and ask for any additional documents needed.  Once cleared there, your application will be sent to the underwriting department, where the loan decision is made and you will be issued an approval. With the FHA streamline refinance product, you should have an approval decision just a few short business days after you complete these steps. Please expect around at least a 1 week period after your loan is submitted to underwriting to obtain a loan decision.