Streamlining your FHA mortgage is particular kind of FHA loan refinancing plan. To qualify, your FHA mortgage must meet certain requirements:
• Your FHA mortgage must not be delinquent.
• Your FHA mortgage must also be currently insured by the FHA.
• Your FHA Streamline Refinance must lower your payments and monthly principal.
Streamlining refers to a reduction in the amount of paperwork needed to accomplish the refinancing.