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What Is Streamline Refinancing?  woman in kitchen reviewing her financial statements

PennyMac offers “streamline” refinancing options to consumers to get better mortgage terms without an extensive qualification process. Streamline refinance programs typically allow borrowers to bypass many of the traditional mortgage requirements by offering minimal credit scoring requirements, no new appraisal, easier income and asset verification, and limited paperwork. Reducing the paperwork can often make the process easier and faster, which is why it’s called “streamline refinancing.” 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.

4 Ways to Simplify the Loan Process  4 Ways to Simplify the Loan Process

Mortgage Lenders have been working hard to improve speed in closing loans. Adding staff and improving technology have helped lenders tackle the spike in refinancing demand triggered by low mortgage rates. You can help your lending team move your loan to your closing date. Rest assured, a little prepping and planning can go a long way. Here are a few actions you can take to help you simplify that loan process.