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Hello all,
I am interested in a fha streamline refinance. We seem to be eligible. My question is whether a fha streamline refi will negatively affect my credit? I've heard several different answers to the question. Please advise.
It'll affect your credit by stopping your current mortgage from reporting, and it'll add an additional trade line. Depending on how sensitive your credit is to recently closed & new accounts would determine if your score would change at all. Most people here report a couple point dip after a paid/closed trade line and subsequent new trade line is added, and then within a few months the scores return to previous levels.