From the RatesQ team · Sample question

Can I do an FHA Streamline Refinance after 6 payments?

This educational scenario and its sample explanations are not posts from real users.

I have an FHA loan I closed about 7 months ago. My rate is 7.25% and I've seen rates dip a bit. A coworker mentioned FHA Streamline lets you skip the appraisal. Is that true and how soon can I do it? Do I need to have 6 payments specifically or is it more like a seasoning window?

Quick Summary

  1. FHA Streamline eligibility includes payment-history and seasoning requirements.
  2. Appraisal requirements and lender overlays depend on the transaction.
  3. Compare written costs and program requirements, including any upfront mortgage insurance.

Sample explanations

From the RatesQ team

The FHA requires at least 6 payments made on the existing FHA loan, and at least 210 days must have passed since your original closing. If you closed 7 months ago you're right at the edge — double-check the exact closing date. The no-appraisal option is real for non-credit-qualifying Streamlines, but your lender can still add overlays. Also look at the UFMIP refund — if your original FHA loan is within 3 years, you get a partial credit on the new upfront MIP.

From the RatesQ team

FHA Streamline reviews include seasoning and net tangible benefit requirements. Even when a new appraisal is not required, closing costs can still apply. Financing costs or receiving lender credits changes the loan balance or pricing. A written Loan Estimate shows the actual fees and terms.

From the RatesQ team

Did this last year. Took about 3 weeks to close. The no-appraisal part was the best — saved time and stress. Just make sure you have 0x30-day late payments in the last 12 months or the lender will flag it.