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How Do I Qualify for a USDA Streamline Refinance?

March 27th, 2020 by Sean Stephens

How Do I Qualify for a USDA Streamline Refinance?

How can you take advantage of lower interest rates and reduce your monthly payments when you have a USDA mortgage? USDA loans can be refinanced with the USDA Streamlined-Assist Refinance program and one of the best features is that it does not require an appraisal!  In today’s video, I’ll review the qualifying details associated with the USDA Streamline-Assist Refinance program.

As an approved USDA lender, we take pride in our USDA experience and would like to share that knowledge with you through our FREE USDA guides and fact sheets.  These are available to help both homebuyers and Realtors understand the USDA process. You can download them all here!

How Do I Qualify for a USDA Streamline Refinance?USDA Streamline Assist Refinance

The USDA Streamline-Assist Refinance program is a 30-year fixed-rate program that allows homeowners with an existing USDA mortgage to take advantage of lower interest rates. Thankfully, there is no appraisal required during this process and no prepayment penalties.

Qualifying Criteria

In order to qualify for a USDA Streamline Assist Refinance the following conditions must be met:

  1. You have an existing USDA mortgage.
  2. No late payments within the past 12 payment. This would be considered anything that is reported as a 30-day delinquency.
  3. The total family household income must meet the current USDA income eligibility requirement.

How Much Does it Cost?

As a starting point, appraisal or inspection fees are not required. Plus, the USDA Streamlined Assist Refinance program allows you to finance eligible closing costs which is able to save money on out-of-pocket expenses.

Furthermore, we at Metroplex do not charge application fees!

Are You Ready to Refinance your USDA mortgage?

The USDA Streamline Assist Refinance program helps reduce a homeowner’s interest rate and monthly payment without the need for an appraisal. Plus, as a USDA approved lender we have the expertise and experience to aid you in each step of the process.

How Do I Qualify for a USDA Streamline Refinance?Simply call 800-806-9836 Ext. 280 or email SeanS@MPLX.org to discuss your scenario, and let us show you the “Metroplex” difference!

Lastly, download any of our FREE USDA Resources here! These complimentary USDA guides and fact sheets are helpful resources that are always available for you.

Thanks for continuing to recommend us for all of your mortgage needs, and I look forward to seeing you right here next week!

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