Existing USDA Guarantee Loan Refinance borrowers can refinance to a new USDA Guarantee Loan using the USDA Streamline Refinance. With the USDA Streamline Refinance borrowers with little equity or no equity can refinance their existing mortgage using the USDA Streamline Refinance without obtaining an appraisal report. USDA Streamline Refinance, borrowers will have the option to either pay their loan closing costs and escrows out-of-pocket or have the lender pay the closing costs through a USDA Refinance No Closing Cost Option.

Learn More About Your USDA Refinance Loan Options
Step 1 of 3 : Existing Loan Information
Current Loan Servicer:
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Approx Loan Amount:
Current House Value:
Current Interest Rate:
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Step 2 of 3 : About You
When are you looking to refinance:
Estimate your credit:
Last 12 Month Mortgage Payment History:
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Step 3 of 3 : Your Contact Information
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USDA Streamline Refinance program benefits are as follows:
USDA Streamline Refinance allows existing USDA Guarantee borrowers to refinance to a new lower interest rate
With the USDA Streamline Refinance no appraisal report is required
USDA Streamline Refinance borrowers may qualify for a USDA No Closing Cost Refinance Option in which the lender pays the non-financeable accrued interest, eligible closing costs, and escrows or pre-paids through a lender credit.
Other program guidelines for the USDA Streamline Refinance Program Include:
Maximum loan amount cannot exceed the principal balance of the existing loan to be refinanced plus the 2.00% refinance guarantee fee
The USDA Streamline Refinance loan cannot include accrued interest, eligible closing costs, and escrows or pre-paids
The USDA Streamline Refinance interest rate must be 1% lower than the current interest rate
Must meet income eligibility requirements to ensure that the household income does not exceed allowable limits
Full Lender review of the borrower’s credit worthiness and ability to qualify for the USDA Streamline Refinance
USDA Streamline Refinance does not allow for any cash-out
Properties converted to investment properties are ineligible for USDA Streamline Refinance
USDA Streamline Refinance only allows for a 30 year fixed rate mortgage