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FHA Streamline Loans


Great News! The Federal Housing Administration has lowered up-front and annual mortgage insurance premiums for refinanced loans, in an effort to expand its Streamlined Refinance program. 

This means that borrowers who are current on their monthly payments can refinance and save even if they owe more than their home is worth! 

  • The FHA Streamline Refinance Program makes it easy to refinance your FHA loan!
  • Limited credit or income documentation required to qualify.
  • Limited employment documentation required.
  • No property appraisal required. 



FHA has permitted streamline refinances on insured mortgages since the early 1980s. “Streamline refinance” refers only to the amount of documentation and underwriting that we must perform, and does not mean that there are no costs involved in the transaction. The basic requirements of a streamline refinance are:

  • The mortgage to be refinanced must already be FHA insured. 
  • The mortgage to be refinanced should be current (not delinquent). 
  • The refinance results in a lowering of the borrower's monthly principal and interest payments, or, under certain circumstances, the conversion of an adjustable rate mortgage (ARM) to a fixed-rate mortgage. 
  • No cash may be taken out on mortgages refinanced using the streamline refinance process. 


Polaris Home Funding Corp  may offer streamline refinances in several ways. We offer "no cost" refinances (actually, no out-of-pocket expenses to the borrower) by charging a higher rate of interest on the new loan than if the borrower financed or paid the closing costs in cash. From this premium, we pay any closing costs that incurred in the transaction. 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. 


  • Jeffrey M Aulet NMLS #231803,  Branch ID's NMLS #1152080, Branch NMLS #1689889, OH # LO.024852.000; WV # LO.23479; Pennsylvania #60101005
  • Branch Phone (740) 314-5324. Home Loans and Refinancing for the States of Ohio, West Virginia and Pennsylvania.
  • Polaris Home Funding Corp. NMLS# 38072, Phone (616) 667-9000.
  • Polaris Home Funding Corp. is not acting on behalf of or at the direction of HUD, FHA, USDA, or the federal government.
  • NMLS® Consumer Access
  •  “This website is not intended for Washington State consumers”