You may be able to lower your monthly payments with little or no upfront costs.

This special mortgage product, reserved for homeowners with existing FHA mortgages, allows you to reduce the interest rate on your current home loan quickly and oftentimes without an appraisal. Available in CT and MA.

Save time and money with an FHA streamlined refinance

Streamlined refinance1 refers to the refinance of an existing FHA-insured mortgage requiring limited borrower credit documentation and underwriting. Streamlined refinances are available under credit qualifying and non-credit qualifying options. Plus, your current FHA loan doesn’t have to be with Farmington Bank to take advantage of this product. To qualify:

  • The mortgage to be refinanced must already be FHA-insured and received prior to 1/26/2015.
  • You must be current on the mortgage with no late payments in the last 12 months.
  • The refinance must result in a net tangible benefit to the borrower. (“Net tangible benefit” varies based on the type of loan being refinanced and the interest rate and/or term of the new loan.)
  • Cash in excess of $500 may not be taken out on mortgages refinanced using the streamlined refinance process.
1 “Streamline refinance” refers only to the amount of documentation and underwriting that the lender must perform and does not mean that there are no costs involved in the transaction
  1. 2 A prequalification/estimate are guidelines; the estimate is not an application for credit and results do not guarantee loan approval or denial. All loans are subject to the credit approval process.

All home loans feature...

Local Underwriting
Competitive Rates
Flexible Terms
Simple Applications

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