An easier, faster way to refinance — with less paperwork and no appraisal.

If you currently have an FHA or VA loan and want to refinance, you may qualify for one of the easiest mortgage options available: a streamline refinance.

It’s designed to save you time, paperwork, and upfront costs — while potentially lowering your monthly payment or interest rate.

Let’s break down how it works, who qualifies, and why it could be one of the fastest ways to improve your financial picture.

---

🔄 What Is a Streamline Refinance?

A streamline refinance is a simplified refi process available to certain government-backed loans — specifically:

• FHA Streamline Refinance
• VA Interest Rate Reduction Refinance Loan (IRRRL)

They’re designed to:

• Reduce monthly payments
• Lower interest rates
• Skip the full underwriting process required on a traditional refinance

💡 In most cases, there’s no appraisal, no income verification, and minimal documentation required.

---

🧾 What’s Different From a Regular Refi?

Feature	Streamline Refi	Traditional Refi
Credit check	Sometimes waived	Required
Appraisal	Usually not needed	Required
Income docs	Often not required	Required
Timeline	Much faster	Standard process
Use of equity	No cash-out allowed	Cash-out possible

It’s truly designed to streamline the process for borrowers who already have a qualifying loan — not to pull equity or restructure other debts.

---

✅ Who Qualifies for an FHA Streamline?

You must:

• Have an existing FHA loan
• Be current on payments (no 30-day late payments in the last 6–12 months)
• Show a net tangible benefit (e.g., lower rate, lower payment, or switch to fixed-rate)
• Live in the home or have recently lived in it as a primary residence

No cash-out is allowed — but you can finance the upfront mortgage insurance premium into the loan.

---

✅ Who Qualifies for a VA IRRRL?

You must:

• Have an existing VA loan
• Be current on payments
• Refinance to a lower rate or switch from adjustable to fixed
• Use the IRRRL for the same property used with your original VA loan

It’s one of the easiest loan types in the industry — and no appraisal is typically needed.

---

💡 Why Use a Streamline Refi?

• ✅ Save on monthly payments
• ✅ Skip the hassle of full paperwork
• ✅ Refinance even if your home value hasn’t increased
• ✅ Close quickly — often in 2–3 weeks

This option is especially useful in a high-rate market if:

• You bought your home with a much higher rate
• You want to drop FHA mortgage insurance
• You want predictability or a longer term to free up cash flow

---

🏢 Why PRMI?

As a direct FHA and VA lender, PRMI:

• Handles streamline refinances 100% in-house
• Moves quickly — most streamlines close in weeks, not months
• Guides you through qualification, even if you’re unsure where to start

We’ll never push a refi that doesn’t make sense.
We’re here to give you clarity, confidence, and options.

---

👇 Want to See If You Qualify for a Streamline Refi?

Let’s take a look at your current loan and payment — and see if you could save with less hassle and no appraisal.