Mortgage Glossary
Streamline Refinance
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A streamline refinance is a simplified refinance for existing government loans, with reduced documentation and often no new appraisal.
What Streamline Refinance means
FHA Streamline and VA IRRRL are the main programs. They require a clean recent payment history and must deliver a tangible benefit, like a lower rate or payment.
Florida example
A Florida veteran with a 7.5% VA loan uses an IRRRL to drop to 6.25% with minimal paperwork and no appraisal, lowering the payment quickly and cheaply.
Related program: Learn more →
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