Streamline: A streamline refinance accelerates the process for borrowers by eliminating some refinance requirements, such as a credit check or appraisal. It’s available for FHA, VA, USDA and Fannie Mae and Freddie Mac loans.No closing cost: A no-closing-cost refinance does not require you to pay closing costs upfront. Instead, those expenses are rolled into the loan — which lowers your upfront costs but means a higher monthly payment and, likely, a higher interest rate.Cash in: Conversely, with a cash-in re ...