Conventional & FHA Refinance Benefit
Check RefiNow and Refi Possible borrower benefit, or compare standard conventional and FHA refinance payments and closing-cost break-even.
Agency guidanceSee verification scopeView guideline history
- Material guidance update
- Oct 20, 2021
- Last verified
- Nov 9, 2026
- Effective date
- Not yet verified
The October 20, 2021 update removed the $50 floor; the current August 26, 2026 reissue retains the 50-bp rate reduction and any positive payment reduction including MI. The DU update was implemented December 4, 2021.
- Source publication
- Not yet verified
- Last verified
- Nov 9, 2026
- Effective date
- Not yet verified
The April 2026 Guide section retains the first-lien 50-bp rate reduction and a lower monthly P&I plus applicable MI.
- Material guidance update
- Dec 1, 2021
- Last verified
- Nov 9, 2026
- Effective date
- Jan 31, 2022
The update removed the $50 monthly floor and retained the 50-bp rate test.
- Source publication
- Oct 8, 2025
- Last verified
- Nov 9, 2026
- Effective date
- Not yet verified
Standard limited cash-out requirements do not establish a minimum monthly payment reduction or recoupment period.
- Source publication
- Not yet verified
- Last verified
- Nov 9, 2026
- Effective date
- Not yet verified
The standard no cash-out requirements are distinct from the Refi Possible benefit test.
- Source publication
- Aug 12, 2026
- Last verified
- Nov 9, 2026
- Effective date
- Not yet verified
Rate and Term and Simple Refinance have separate requirements from the Streamline NTB test. The handbook edition date is not a verified change to this comparison.
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