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does credit need to be pulled to do an FHA streamline refinance?

by aaronappex89785 from Bluffton, Texas. Jun 1st 2015 Reply


Karen Hornby (karen@stellarfinancial.net)
#234 ranked lender in Texas - 1 contribution

No credit report is required if you refinance existing balance only, no closing costs rolled into loan. The mortgage payment history is required.If you are rolling in closing costs to the loan balance we are required to pull your credit.

Jun 1st 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

It depends on the lender.. FHA by themselves do not require new credit for a streamline refinance.. but understand that FHA does not lend money.. the lenders will oftentimes have their own overlays, or additional guidelines, which most will require a credit check. I will say that the lenders with the best rates will want to look at your credit and price your loan based on your credit scores.. those lenders who will do a streamline without a credit report, and there are a few.. will usually have higher rates and fees.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jun 1st 2015
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