Definition
Streamline Refinance
A simplified refinance for existing FHA, VA or USDA borrowers, typically with reduced documentation and often no appraisal.
Nearby terms
Settlement Agent
The neutral party conducting the closing, disbursing funds and recording documents.
SOFR
The Secured Overnight Financing Rate, the benchmark index now used on most new adjustable-rate mortgages.
Subordination
An agreement in which an existing lienholder accepts a lower priority position, commonly required when refinancing a first mortgage behind an existing HELOC.
Survey
A drawing showing property boundaries, improvements, easements and encroachments.
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