Residential · Calculator
FHA Streamline Refinance Calculator
FHA Streamline refinance savings, the new loan amount under HUD’s lesser-of rule, the UFMIP refund by month, and break-even. Veterans with a VA loan: use the VA IRRRL calculator.
Run an FHA Streamline below. HUD sets the new loan amount at the lesser of two formulas, and the refund on your original UFMIP shrinks every month, so timing matters. The break-even output tells you whether the rate drop pays for itself. For a VA loan, use the VA IRRRL calculator, which adds the 36-month recoupment test.
Streamline program
Original FHA Loan
UFMIP refund declines over the first 36 months.
1.75% of original loan amount at closing.
New FHA Loan
Items Added to New Loan
Monthly P&I Savings
$369.96
Including MIP delta: +$365.70/mo
UFMIP Refund
Max Base Loan (HUD lesser-of)
Payments
Frequently asked
About this calculator.
What is an FHA Streamline refinance?
FHA's reduced-documentation refinance for borrowers who already have an FHA loan. No appraisal in most cases, no income documentation, and no debt-to-income test on the non-credit-qualifying version. You pay a new upfront mortgage insurance premium (UFMIP) of 1.75%, offset by a refund of part of the original UFMIP when the loan is under 36 months old.
What are the FHA Streamline requirements?
The loan being refinanced must be FHA-insured, at least 210 days must have passed since its closing with six payments made, the mortgage must be current, and the refinance must produce a net tangible benefit: for a fixed-to-fixed streamline, the combined rate (interest plus annual MIP) has to drop by at least 0.5 points. No cash back beyond $500.
Does a VA IRRRL work the same way as an FHA Streamline?
Mostly. The VA IRRRL is the VA's equivalent for borrowers with an existing VA loan: the same no-appraisal, no-income-docs structure, with a 0.5% funding fee instead of UFMIP and a 36-month recoupment test written into the statute. Run a VA scenario on the dedicated VA IRRRL calculator at /calculators/va-irrrl; the VA toggle above gives the same math.
How is the new loan amount calculated on FHA Streamline?
HUD requires the lesser of two calculations: (1) current balance + accrued interest + late charges + escrow shortage + 2 months prorated MIP minus the UFMIP refund, OR (2) original loan amount minus the UFMIP refund. Both are shown above so you can see which one binds.
What is the UFMIP refund schedule?
HUD's declining schedule from Mortgagee Letter 2014-04: 80% refund in month 1, 78% in month 2, declining 2% each month down to 10% in month 36. After month 36, no refund. The earlier you streamline, the more of your original UFMIP comes back.
When does a streamline refi NOT make sense?
When the rate improvement is small (under ~0.5%) and the closing costs + funding fee / UFMIP outweigh the monthly savings recouped over the time you plan to keep the loan. The "recoup months" output above is the honest answer — anything past 60 months is usually a no.
Streamlines close fast
21 days, often less.
An FHA Streamline routes around the slowest parts of a typical refi. Send us your most recent statement and we will quote your scenario against today's rate sheet.
Prefer to talk first? Call (305) 703-9001