FHA Streamline Refinance?

[Christian Fregoso]

Just received a letter from my mortgage bank that my current FHA loan is eligible for an FHA Streamline Program. Did some research on this since it was new to me and it seems like an option that I'm willing to take. Currently I have a duplex under my FHA loan with a 3.25% fixed rate 30 years. After speaking with a representative today, looks like the Streamline refinance will bring my interest rate to 2.75% fixed, 30 year. I am waiting on the estimate with the numbers to review but I wanted to see other investors input on this. After our discussions, looks like I'll be able to drop my monthly mortgage by a little over $100 (10%). I plan on holding this property for the long term. Any tips or advice on this?