As interest rates have dipped recently, we are getting more calls from people who live in Arizona and are asking about the FHA Streamline Refinance program.  Often the first question from the person interested is "Do I Qualify"?

The basic qualification criteria for the FHA streamline refinance program are quite simple.  There are three main criteria that you must meet.
  1. You have to live in the house and currently have an FHA loan.
  2. You can't have more than 2 late payments on your mortgage in the last 12 months.
  3. You can't participate in the FHA streamline program unless it benefits you.
No income, no asset verification is needed with the FHA streamline program -- it is just designed to allow current FHA borrowers who are in good standing to take advantage of lower interest rates when they happen.

Like now, for example!