Can I refinance a USDA loan?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes. USDA offers a streamlined-assist refinance that lowers your rate and payment with minimal documentation, no new appraisal in many cases, and no income recalculation. It's only for existing USDA loans.
You'll need a net payment reduction and current payments. It's the simplest way for USDA owners to capture a lower rate. We'll confirm you meet the streamlined-assist requirements.
Yes, USDA streamline exists
Yes. If you have a USDA loan, you can refinance it, including through the USDA streamline program. The streamline lowers your rate with reduced documentation and often no new appraisal.
The home must remain your primary residence, and you need a history of on-time payments.
What it can and cannot do
A USDA refinance can lower your rate and payment, but it does not allow cash-out. The property must still be in an eligible USDA area.
We will check your USDA refinance options. Reach out and we will find the best path to a lower payment.