USDA Streamlined-Assist Refinance
Can you refinance a USDA loan?
The USDA Streamlined-Assist Refinance is an available loan program that allows homeowners with an existing USDA mortgage to take advantage of lower interest rates and reduce their monthly payment.
As a USDA approved lender, we offer this program and in today’s video I will discuss the details and explain who is eligible for the USDA Streamlined-Assist Refinance program.
If you are a Realtor watching this video, please take a moment to forward and share with your database and let clients know that programs are available which can help reduce their interest rate and monthly payment without the need for an appraisal.
USDA Streamlined-Assist Refinance
What are the qualifying criteria and benefits?
- You must already have an existing USDA mortgage to be eligible for consideration
- You may not have any late payments within the past 12 months
- This would be considered anything that is reporting as a 30 day delinquency
- Total family household income must meet current USDA income eligibility requirement
- There is no appraisal required
- This is a 30 Year Fixed Rate Program
- NO prepayment penalties
What are the costs?
- Since there is no appraisal requirement, there are NO appraisal or inspection fees
- We do not charge application fees
- The USDA Streamlined Assist Refinance program allows for you to finance eligible closing costs, thus saving money and large out of pocket expenses.
As always, I want to thank everyone for the continued recommendations and trusting us with all of your mortgage needs.
Whether it be FHA, VA, USDA, or Conventional – Just call or email to discuss your scenario and let us show you the “Metroplex” difference.
800-806-9836 Ext. 280
SeanS@MPLX.org
Just call or email if you have any qualifying questions, want to discuss a new scenario, or would just like to take advantage of our free 2nd opinion service which is great for those existing transactions.
I want everyone to make it a great day, and look forward to seeing you right here for the next tip of the week!
P.S., Don’t forget to download our USDA Blueprint for Success educational resource. This complimentary guide is designed to walk you through the USDA qualifying process step-by-step and is ideal for both homebuyers and Realtors alike.
Here is the link to download your free “USDA Blueprint for Success“
