An FHA streamline refinance can offer an efficient refinancing path for eligible FHA borrowers, particularly when the primary goal involves improving the existing mortgage. Its potentially simpler documentation and underwriting process may make it attractive compared with traditional refinancing.Traditional refinancing, however, may provide greater flexibility for borrowers with different financial objectives. It can involve a more comprehensive review, but that process may be appropriate when borrowers want to change loan types, access equity, or pursue financing outside the scope of an FHA streamline transaction.