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- – FHA Streamline Rates are the same as the purchase fha home loans. A Streamline FHA Refinance is fast and easy because there is less documentation required. FHA mortgages (even the Streamline Refinance) never have pre-payment penalties. No verification of employment or income is required. No appraisal is required.
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration, or FHA. Popular with first-time homebuyers, FHA home loans require lower minimum credit scores and down.