Today’s FHA Streamline refinance rates
An FHA Streamline refinance lowers the rate on a loan that’s already FHA-insured, with less paperwork than a regular refinance and, in most cases, no appraisal.
Rates as of · updated each business day
| Loan | Rate | APR | Monthly principal & interest |
|---|---|---|---|
| FHA Streamline 30-year fixed | 6.845% | 7.588% | $2,665.55 |
| Conventional 30-year fixed | 7.418% | 7.451% | $2,774.43 |
| VA IRRRL 30-year fixed | 6.866% | 6.937% | $2,638.44 |
How these rates are set. Each rate is the average of what Go Direct Lenders’ wholesale lending partners offer that business day for one sample loan, with no discount points. Your own rate and APR depend on your credit, loan-to-value, property and the market on the day you lock. Payments are principal and interest only; taxes, insurance and any mortgage insurance make the actual payment higher.
FHA Streamline 30-year fixed refinance: 6.845% rate / 7.588% APR, based on a $400,000 refinance at 96.5% loan-to-value, a 720 credit score, a primary single-family residence, a 30-day rate lock and 0 discount points. Includes the 1.75% FHA upfront mortgage insurance premium financed into the loan ($407,000) and monthly mortgage insurance. 360 monthly principal-and-interest payments of $2,665.55. Estimated prepaid finance charges of $7,922 are included in the APR.
Conventional 30-year fixed rate/term refinance: 7.418% rate / 7.451% APR, based on a $400,000 refinance at 80% loan-to-value, a 760 credit score, a primary single-family residence, a 30-day rate lock and 0 discount points. 360 monthly principal-and-interest payments of $2,774.43. Estimated prepaid finance charges of $1,300 are included in the APR.
VA IRRRL (Interest Rate Reduction Refinance Loan) 30-year fixed: 6.866% rate / 6.937% APR, based on a $400,000 refinance at 100% loan-to-value, a 720 credit score, a primary single-family residence, a 30-day rate lock and 0 discount points. Includes the 0.5% VA IRRRL funding fee financed into the loan ($402,000). 360 monthly principal-and-interest payments of $2,638.44. Estimated prepaid finance charges of $2,880 are included in the APR.
FHA Streamline rules at a glance
- You need an FHA loan now, and it can’t be delinquent.
- Seasoning: at least six payments made, six full months since the first payment was due, and 210 days since the loan closed.
- A real benefit: going from a fixed rate to a fixed rate, your new “combined rate” (interest rate plus annual mortgage insurance rate) must be at least 0.5 percentage points lower than the old one.
- No appraisal required. FHA uses your home’s original value for mortgage insurance purposes.
- Little cash back: no more than $500 at closing.
- Mortgage insurance: the upfront premium is 1.75% of the loan, but if your current FHA loan is less than three years old you get a partial refund of the upfront premium you paid, which lowers the new one.
Read the full FHA Streamline guide for the payment-history rules, the refund schedule and current annual MIP rates.
Other refinance rates
Conventional refinance rates
Rate-and-term refinance of a conventional loan.
VA IRRRL rates
The VA streamline refinance for homeowners who already have a VA loan.
Rates in your state
- Arizona
- California
- Colorado
- Florida
- Georgia
- Maryland
- Michigan
- Minnesota
- North Carolina
- Ohio
- Oregon
- Pennsylvania
- South Carolina
- Tennessee
- Texas
- Utah
- Virginia
- Washington
Frequently asked questions
Do I need an appraisal for an FHA Streamline?
No. FHA doesn’t require one, and it uses the original value of your home for mortgage insurance.
Can I take cash out with an FHA Streamline?
No more than $500. If you want to take equity out, you’d need an FHA or conventional cash-out refinance.
How often is this rate updated?
Every business day. We only show a rate when at least one lending partner priced it from that day’s rate sheet.
Sources
Go Direct Lenders is not affiliated with or acting on behalf of the U.S. Department of Veterans Affairs, the Department of Housing and Urban Development, the Federal Housing Administration or any other government agency.
Go Direct Lenders, LLC DBA Veterans Direct | NMLS ID 1028986 | Equal Housing Opportunity. Not affiliated with the Department of Veterans Affairs or any government agency. By refinancing an existing loan, the consumer’s finance charges may be higher over the life of the loan.