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FHA Simple Refinance​

The FHA Simple Refinance program from Carrington Mortgage Services, LLC is a no cash-out option for existing FHA-insured mortgage refinance loans. No requirement for 6 full payments (210 day requirement) as with a typical FHA Streamline loan. Carrington has the loan programs and service that let you deliver for your credit-challenged borrowers.


  • Reduced annual and UFMIP* and the ability to roll new loan costs into existing loan balance
Comparison of Refinance Programs FHA Non-Credit Qualifying Streamline FHA Credit Qualifying Streamline FHA Simple Refinance FHA Rate/Term
Closing costs & prepaid incl. in loan amt. No No Yes Yes
Reduced UFMIP/ANNUAL MIP for FHA endorsed mortgage on/before 05/31/19**

UFMIP .01%


UFMIP .01%


UFMIP .01%


UFMIP 1.75%


6 full payments since 1st payment date and 210 days since original note Yes Yes No No
Streamline net tangible benefits required Yes Yes No No
Same borrowers required+ Yes No No No
Existing FHA Insured Mortgage Yes Yes Yes No
Income & reserves required No Yes Yes Yes
Appraisal required No No Yes Yes
Max LTV/CLTV N/A N/A 97.75++ 97.74++
NOO/second homes allowed Yes Yes No No

*Current loan must have case endorsed on or before 5/31/2009 to be eligible for reduced MIP factors. After that date, standard FHA UFMIP of 1.75% and annual fee of .85% apply.

**Rate/Term refinance UFMIP and Annual MIP vary based on term and LTV. See FHA MIP chart.

+All original borrowers required for non-credit qualifying (except in the case of death/divorce) and only one original borrower is required for credit qualifying and simple refinance.

++Max LTV 97.75% with minimum 580 FICO. Max LTV 90% with minimum 500 FICO.

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Equal Housing Opportunity An Equal Housing Opportunity Lender. Copyright 2007 - 2024 . Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site:

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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

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