FHA & VA Streamline Refinance Home Loan

Options
Features
Qualifications
FAQs

Apply to Refinance

Replace Your Current Government-Backed Mortgage to Take Advantage of a Lower Interest Rate or Better Terms

Choose from these options:

FHA Streamline Refinance Loan

An FHA streamline refinance loan is a mortgage refinance option for people with existing FHA loans. You can use an FHA streamline refinance loan to get a lower interest rate with less paperwork and faster closing times.

VA Streamline Refinance Loan

A VA refinance loan, also known as an Interest Rate Reduction Refinancing Loan (IRRRL), allows veterans with an existing VA home loan to quickly and easily refinance to a lower interest rate with little to no out-of-pocket costs.

Apply to Refinance

You Might Say We're Unlike Any Other Bank

At Midland, we know it only takes a moment for an idea to spark, to find your dream home, or to start planning for your forever. Whatever your moments are, we're here for them. Learn who we are.

Our loan officer was attentive, clear, and guided us through every step, addressing all our questions.

Yanet, Customer

Our lender provided helpful information, kept us updated, and helped us navigate significant title delays. As an out-of-state client, close coordination and timely updates were key to our positive experience.

Paul, Customer

Key Features & Benefits

Lower Monthly Payments

Make your monthly payments more affordable by refinancing to a lower interest rate.

Lower Closing Costs

A streamline refinance may also involve fewer fees.

Quick Process

Save time on an extensive appraisal, credit check, or income verification.

Reduced Paperwork

Minimal documentation is required compared to a traditional refinance.

Apply to Refinance

Do You Qualify for a Streamline Refinance Loan?

If you have a current FHA or VA loan, you're eligible for streamline refinancing. Most streamline refinance loans do not require a credit check or income verification for approval, but you must reside in the house you're trying to refinance to qualify.

Mortgage Payment Calculator

Home Affordability Calculator

How To Take the Next Step

1. Explore Your Options Whether you're lowering your rate, shortening your term, or cashing out, we’ll help you find the best fit for your goals.

2. Apply Submit your application and let us do the heavy lifting.

3. Enjoy Your Savings Enjoy lower monthly payments, better terms, or cash in hand for your next big project.

Apply to Refinance

Quiz: Find Your Ideal Home Loan

Explore quick, interactive quizzes to pinpoint a loan tailored to your needs. Where are you in your home financing journey?

Take the Home Buying Quiz

Take the Refinancing Quiz

Take the Home Building Quiz

Frequently Asked Questions

What is a streamline refinance?

A Streamline Refinance is a simplified refinancing option available for homeowners with existing government-backed mortgages, such as FHA, VA, or USDA loans. It allows borrowers to refinance their current loan to a new loan with a lower interest rate or better terms, often without the need for an extensive appraisal, credit check, or income verification.

Streamline refinances are designed to make it easier and faster for eligible homeowners to benefit from lower interest rates and reduced monthly payments.

Why consider streamline refinancing with Midland States Bank?

Midland States Bank makes the streamline refinancing process quick and easy. When you refinance your loan with us, you'll get:

Convenient application options: You can apply online or get help from one of our refinancing specialists.
Competitive rates: We help you secure a lower interest rate than your current one.
Expert assistance: Our loan experts work closely with you throughout the entire process.
Outstanding customer service: We understand your needs and put our hearts into helping you find the best mortgage option.

How long does streamline refinancing take?

On average, it takes 30 to 45 days to complete the streamline refinance process. The specific length depends on your lender and loan terms.

What documents do I need for a streamline refinance loan?

Because the process is streamlined, it requires less documentation than a conventional refinance. You may have to provide:

Mortgage statements showing a history of on-time payments.
Employer information to verify employment status.
Bank statements.
Bills addressed to you at the relevant property address to verify your residence.