USDA Streamline Refinance

The USDA Streamline Refinance Program caters to homeowners with an existing USDA Guaranteed or Direct loan. This initiative enables these homeowners to refinance their primary residence without undergoing an appraisal process. This proves especially beneficial for individuals whose mortgages currently exceed the property’s value, as they can refinance without incurring additional expenses or penalties.

Key points regarding the USDA Streamline Refinance program encompass:

Absence of credit score prerequisites.
Requirement of timely monthly mortgage payments for the past 12 consecutive months.
Elimination of the need for an appraisal.
Restricted to primary residence properties; not applicable for investment or secondary homes.
Reduction of monthly principal and interest payments.
Option to lower the interest rate provided it's a fixed rate.
Exclusion of the possibility of obtaining cash out.
Absence of out-of-pocket expenses.

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Model Your Loan Here

Total Principal Paid

$1500

Total Interest Paid

$897

Monthly Payment

$15

Months To Payoff

$130

Borrowing :

$3500

Total You Will Pay:

$6000

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USDA Streamline Refinance

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