Assumability and the FHA Streamline Refinance Program
Are FHA Streamline Refinance loans assumable? The answer is yes. Just like other forms of FHA financing, FHA Streamline Refinance loans are fully assumable. However, borrowers typically need to get approved by both the FHA and the lender in order to be approved to assume the loan.
In most cases, lenders will want to see that the assuming borrower has a decent credit score (ideally 640 plus), as well as a steady source of income and a reasonable debt-to-income (DTI) ratio. While these things may not be technically required by the FHA, lenders well are within their rights to request them from a potential borrower.