Streamline Loans

Take advantage of the benefits that come with your FHA or VA Loan, such as the FHA Streamline or VA Interest Rate Reduction Refinance Loan (IRRRL)

Why Consider an FHA Streamline or VA IRRRL?

  • Hassle-free refinancing

    A Streamline loan is designed to help you take advantage of lower market interest rates with a simplified loan process that usually doesn't require income documents or an appraisal.

  • Take advantage of favorable loan terms

    Our experienced mortgage professionals will guide you through selecting the most advantageous option for your personal goals. Our clients love the simplicity of the Streamline.

  • Save on interest without starting over

    We have loan options that will allow you to reduce your interest rate & payment without resetting back to a 30 year term. It's one of the many benefits of the Streamline.

  • Let JFQ Lending show you how

    Our experienced mortgage professionals will review your complete financial profile and help you maximize the benefits of your FHA or VA loan.

Streamline FAQs

What is an FHA Streamline?

An FHA Streamline is the simplest and easiest way to refinance your current FHA loan into a lower interest rate, a shorter term loan, or a fixed rate from an adjustable rate loan.

Using an FHA Streamline loan product, JFQ Lending can help you to refinance without having to qualify based on your income and credit all over again — and you can even avoid having to do another appraisal in most cases. Let our mortgage professionals show you how much you can save by streamlining.

How is an FHA Streamline different from other types of loans?

FHA Streamline refinance loans are an ideal option if you have an FHA loan currently and are looking to benefit from lower interest rates, a lower monthly payment, or would like to move to the security of a fixed rate loan versus your current FHA adjustable rate loan. 

Unlike most other loan programs, an FHA Streamline requires limited documentation in order to close. Compared to conventional loans and even full-documentation FHA loans, FHA Streamline loans in most cases will not require you to qualify based on your income all over again. You can simply take advantage of the potential interest rate and payment savings. It is also likely that you will not need a new appraisal as part of your streamline refinance, saving you both time and money.

What is a VA Interest Rate Reduction Refinance Loan?

A VA Interest Rate Reduction Refinance Loan (IRRRL) is the simplest and easiest way to refinance your current VA loan into a lower interest rate, a shorter term loan, or a fixed rate from an adjustable rate loan.

Using a VA Streamline loan product, JFQ Lending can help you to refinance without having to qualify based on your income and credit all over again, or pay a full subsequent-use Funding Fee — and you can even avoid having to do another appraisal in most cases. Let our mortgage professionals show you how much you can save by streamlining.

How is a VA Streamline different from other types of loans?

VA Streamline refinance loans are an ideal option if you have a VA loan currently and are looking to benefit from lower interest rates, a lower monthly payment, or would like to move to the security of a fixed rate loan versus your current VA adjustable rate loan. 

Unlike most other loan programs, a VA IRRRL requires limited documentation in order to close. Compared to conventional loans and even full-documentation VA loans, VA Streamline loans in most cases will not require you to qualify based on your income all over again. You can simply take advantage of the potential interest rate and payment savings. It is also likely that you will not need a new appraisal as part of your streamline refinance, saving you both time and money.

What are the requirements for a streamline refinance?

FHA Streamline

The basic requirements of an FHA streamline refinance are:

  • Your existing loan must be an FHA loan.
  • Your loan must be up to date and current on all payments in order to refinance (e.g. not in a delinquent status).
  • There must be a real benefit for you to refinance, such as a reduction in interest rate/monthly payment or in the new loan term.
  • You cannot receive cash-out in excess of $500 using the streamline refinance process.
VA Interest Rate Reduction Refinance Loan

The basic requirements of a VA streamline refinance are:

  • Your existing loan must be a VA loan.
  • Your loan must be up to date and current on all payments in order to refinance (e.g. not in a delinquent status).
  • There must be a Net-Tangible Benefit (NTB), as determined by VA guidelines for you to refinance, such as a reduction in interest rate/monthly payment or in the new loan term.
  • You cannot receive cash-out in excess of $500 using the streamline refinance process.

It is important to note that a “streamline refinance” refers to the type of documentation and underwriting required and not the cost or structure of the loan itself. You will still need escrow and title work, county recording, and other required services to close your new loan. Since the FHA and VA do not allow closing costs to be rolled into the new loan amount on a streamline refinance, these must still be accounted for either with a credit from the interest rate you choose or out-of-pocket.

Why choose JFQ Lending for my Streamline?

With over $2.1 Billion in FHA loans and over $800 million in VA loans funded in 2020, we have helped thousands of families improve their home financing. Let us show you how you can: 

  • Secure a low, fixed interest rate with a streamlined loan process.
  • Begin the process with no deposit or upfront fees required.
  • Complete your refinance without additional income and asset verification.
  • Skip the appraisal.
  • Reduce your monthly FHA Mortgage Insurance Premium potentially.
  • Avoid paying a full subsequent-use VA Funding Fee.
  • We also have options for you to keep your current loan term or shorten the repayment time frame on your loan.

We are ready to help you streamline your home loan, so why pay more than you have to?

Getting approved starts here.

Our mortgage professionals are ready to help.

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