If you already have an FHA loan and interest rates have fallen, or you have an adjustable-rate FHA mortgage and would like a fixed-rate mortgage, you may be eligible for an FHA Streamlined Refinance. What is the Streamlined Refinance? The FHA has permitted streamlined refinance loans since the 1980s. A streamlined refinance is the same as a conventional refinance, but with reduced paperwork. It does not eliminate all of the fees or costs associated with refinancing. Some fees and costs may be ...