Many times, the first question that people ask when trying to get an FHA streamline refinance done is "what is the interest rate?" While this question is important, before you ask it you might ask "what do I need to do to qualify for the FHA streamline refinance program?"

Arizona FHA Streamline Refinance Program: 3 Criteria To Qualify
FHA designed the FHA streamline program as a way for people who are currently in FHA loans to take advantage of lower interest rates when they are available without having to completely re-qualify for a new loan. There are 3 criteria you must meet in order to qualify for the FHA streamline refinance program:

  1. You must live in the property (no investment property allowed)
  2. You can't have more than 2 thirty day late payments on your mortgage
  3. The program must lower your interest rate and mortgage payment

If you meet these three criteria... then a reasonable next question is "what is your interest rate for the FHA streamline refinance program? And of course - make sure that you are working with an FHA streamline refinance expert who can help you get your loan done.