If you have an existing FHA loan you can do a refinance on that loan without any documentation. It is called an FHA streamline refinance or an FHA Refi. One of the unique features of a streamline refi is that you do not need to have an appraisal or provide any asset or income documentation. An FHA Streamline is one of the easiest loans to get right now. It would be equivalent to a no documentation loan. Even if your home is upside down you can do an FHA stream line refi. It truly is one of the best loans to get if you are trying to get the lowest mortgage interest rate that you can get.
An FHA streamline refinance may also work in the place of a loan modification. If you are unable to make your mortgage payment and are still current, an FHA streamline refi may make sense to do if your existing lender is unwilling to do a loan modification for you.
Don’t wait to refinance, refinance then wait.
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