FHA Streamline cons?

[Amy VE]

Hello, Wondering if anyone has any experience with the FHA Streamline refinancing process? We have a triplex under FHA that is now fully rented (no longer owner occupied). We keep getting calls, emails, and snail mail from our mortgage company about doing the FHA streamline to reduce interest rate/payments. I'm told they wouldn't need to do a hard credit pull, however not sure how it looks to banks. We are anticipating buying another property in the next few months (likely a conventional mortgage) and not sure if we do the streamline for our current property if this would mess up being able to qualify for a new mortgage for a new property shortly after?

[Chris Mason]

If your rate starts with 4, and your FICO does not start with 5 or 6, you should probably refinance.