An FHA streamline is a fast-track refinance from one FHA loan into a new FHA loan, usually to lower the rate, and no version of it requires an appraisal. There are two flavors, and the paperwork depends on which one you're in: - Non-credit-qualifying (the common one): no appraisal, no credit check, no income or employment verification. Qualifying rides on your payment history and loan seasoning. HUD sets no minimum credit score for this version, though most lenders overlay their own, so confirm with your lender. - Credit-qualifying (required in certain situations, such as removing a borrower who affects ability to pay): still no appraisal, but the lender performs a full credit and income review. On fees, the FHA-specific piece is mortgage insurance. FHA charges an upfront mortgage insurance premium as a percentage of the loan amount (FHA sets that rate and changes it, so confirm the current figure). The streamline wrinkle: refinance FHA-to-FHA within the first three years and you get a prorated refund of the original upfront premium, credited against the new one. The refund shrinks month by month on a declining schedule and phases out entirely at month 36. Beyond mortgage insurance, you still have normal closing costs: title, escrow, recording, and credit report, minus the appraisal fee since none is required. These vary a lot by state because of mortgage or intangible taxes and very different title insurance pricing, so two identical loans can carry quite different totals depending on where the property sits.