FHA streamline refinance calculator
If you have an FHA loan, a streamline refinance may lower your payment with no FHA-required appraisal and limited underwriting. Enter your balance, current rate and MIP, years remaining, and a new fixed rate to estimate payment savings, upfront MIP, the permitted term, and the applicable fixed-to-fixed benefit test.
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What an FHA streamline refinance is
An FHA streamline refinance replaces an existing FHA-insured loan with a new FHA-insured loan using limited borrower credit documentation and underwriting. FHA does not require an appraisal for the streamline, and both credit-qualifying and non-credit-qualifying paths exist. Streamline describes the underwriting process; it does not mean the transaction has no costs.
The calculator above assumes a fixed-rate loan refinancing into another fixed-rate loan. It compares estimated principal, interest, and MIP payments, keeps entered closing costs out of the financed amount, estimates the new upfront MIP, checks the permitted term, and applies the fixed-to-fixed benefit test that matches the term change. Everything runs in your browser, so nothing you enter is sent to me or stored.
The benefit test changes with the term reduction
FHA defines the combined rate as the note interest rate plus the annual MIP rate. For a fixed-to-fixed streamline with no term reduction or a reduction of less than three years, the new combined rate must be at least 0.5 percentage points below the prior combined rate.
For a fixed-to-fixed streamline that reduces the remaining term by three years or more, a different test applies: the new combined rate must be below the prior combined rate, and the new combined principal, interest, and MIP payment cannot exceed the prior payment by more than $50. ARM-to-fixed and other ARM combinations use separate standards, so this calculator does not label them.
The upfront MIP and prior-loan refund
HUD's current published premium structure lists a 1.75% UFMIP for most streamline refinances, with a special exception for certain older loans. An eligible refund from the prior FHA upfront premium may be applied to the new FHA-insured refinance during the first three years; the available amount declines over time, and no refund is due after the third year.
This calculator deliberately does not estimate that refund or payoff additions. It applies 1.75% to the balance you enter and keeps your entered closing costs outside the loan. The lender obtains the case-specific refund and payoff, then calculates the actual maximum base loan and total mortgage.
Seasoning and the other streamline rules
A few rules decide whether you can streamline yet:
- You already have an FHA loan. The streamline refinances an existing FHA-insured mortgage.
- Seasoning. At case number assignment, at least 210 days must have passed from closing, at least six full months must have passed since the first payment due date, and at least six payments must have been made.
- Payment history. The applicable credit-qualifying or non-credit-qualifying payment-history standard must be met, with additional rules for recent modification or forbearance.
- A benefit. The transaction must pass the applicable combined-rate, term-reduction, or ARM-transition test.
- A permitted term. The new amortization period is limited to the lesser of 30 years or the remaining amortization period plus 12 years.
See my FHA streamline program page and the broader FHA loan guide, then send me your loan and I will tell you whether it pencils out.
What this estimate is, and what it is not
This tool estimates payment savings, upfront MIP, an illustrative new total loan, and cash-cost break-even from the numbers you enter. It is not an approval, a pre-qualification, or a commitment to lend, and it does not pull credit, verify the existing loan, model ARM transitions, or compute the prior UFMIP refund. Your lender confirms the payoff, maximum mortgage, MIP, refund, seasoning, payment history, and net tangible benefit.
When you want a real picture, I price your actual FHA loan, pull the refund schedule, and tell you honestly whether the streamline saves you enough to be worth it.
Common questions
What is an FHA streamline refinance?
It replaces an existing FHA-insured loan with a new FHA loan, usually at a lower rate, without a new appraisal and, in the non-credit-qualifying version, without full income and credit underwriting. You stay in the FHA program and pay MIP on the new loan, so the benefit is measured by the combined rate, not the interest rate alone.
What is the net tangible benefit on an FHA streamline?
For a fixed-to-fixed streamline with no term reduction or a term reduction under three years, the new combined rate generally must be at least 0.5 percentage points below the prior combined rate. With a term reduction of three years or more, the new combined rate must be below the prior combined rate and the new principal, interest, and MIP payment cannot exceed the old payment by more than $50. ARM scenarios use different HUD tests.
Is there a UFMIP refund on an FHA streamline?
An eligible refund from the prior FHA upfront mortgage insurance premium may be applied to a new FHA-insured refinance during the first three years. The available amount declines over time, and no refund is due after the third year. The lender obtains the case-specific amount from HUD and uses it in the final maximum-mortgage calculation.
Do I need an appraisal for an FHA streamline?
FHA describes streamline refinances as not requiring an appraisal, but the lender still verifies the transaction, occupancy when applicable, payment history, payoff, and other program requirements. The calculator uses the balance you enter; the lender's allowable loan amount controls.
How soon can I do an FHA streamline refinance?
At FHA case number assignment, at least 210 days must have passed from the closing date, at least six full months must have passed since the first payment due date, and at least six payments must have been made. Payment-history and any modification or forbearance requirements also apply.
Primary sources
Reviewed September 3, 2026 against HUD's published FHA guidance. The current handbook, lender implementation, case-specific payoff, and transaction documents control.
Wondering if a streamline is worth it?
Send me your current FHA loan and I will pull the UFMIP refund, run the combined-rate benefit, and tell you honestly whether the refinance saves you enough to bother.