If you’re a homeowner in a rural area with a USDA loan, refinancing can be a fantastic way to improve your financial situation. Whether you’re looking to lower your monthly payments or access cash for a project, we’ve got options for you!
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If you’re looking to refinance your USDA loan without the need for a net tangible benefit test, the Non-Streamlined Refinance might be a good fit. This option allows you to refinance up to the new appraised value, which can cover your principal balance, eligible closing costs, and even recapture fees.
Refinance up to your home’s current appraised value, giving you more flexibility to cover closing costs and other fees.
Unlike some refinancing options, you’re not required to reduce your monthly payments, giving you more control over the terms.
Add or remove borrowers to suit your needs, as long as one original borrower remains.
You need to meet USDA's income limits, have had your current loan for at least 12 months, and live in the property as your primary residence. Other conditions may apply.
If you want the simplest USDA refinance option with a guaranteed benefit, Streamlined-Assist Refinance is the way to go. This program requires no appraisal, no credit score requirement, and no debt-to-income ratio calculations.
Perfect for homeowners looking for a stress-free refinance process.
You’ll need to show at least a $50 reduction in your total monthly payments, ensuring a tangible benefit.
Your new loan will cover your principal, interest, closing costs, and the upfront guarantee fee, making it easy to manage.
As long as you’ve made on-time payments for the past 12 months and meet USDA’s income requirements, you can qualify for this streamlined option. Other conditions may apply.
Refinancing your USDA loan offers the opportunity to simplify your payments, lower your interest rate, or save on monthly costs. Whether you’re aiming to reduce your payments or streamline your loan, USDA refinancing provides flexible options tailored to your needs. Our team is here to help you find the best refinancing solution to fit your goals.
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