USDA Streamline Refinance
Refinance an existing USDA loan with no new appraisal and no reserves. With at least one program, your USDA loan must have closed at least 180 days before the refinance goes to USDA, with no payment more than 30 days late in the last 180 days.*
A simpler rural refinance.
A USDA streamline replaces your current USDA loan with no appraisal and no reserves to show.
- Streamlined documentation, usually no new appraisal
- Current USDA loan closed at least 180 days before conditional commitment
- No payment more than 30 days late in the past 180 days
- Household income must still meet USDA adjusted income limits
- New rate can be no higher than your current USDA rate*
- No co-borrower who lives outside the home
Refinance your existing USDA loan balance*
Refinance only, no cash out
Borrowers can be added at refinance
Streamlined documentation, usually no new appraisal
Lower your rate and monthly payment
Assist path skips debt-to-income
What is the Saxton USDA Streamlined-Assist Refinance?
Two USDA-to-USDA paths: credit-qualifying streamlined and streamlined-assist.
The Saxton USDA Streamlined-Assist Refinance is a full-featured mortgage that is a simplified refinance for homeowners who already have a USDA loan, with reduced paperwork and, in most cases, no new appraisal.
Qualify with the streamlined documentation these refinances allow. In most cases there is no new appraisal and no new income verification.
Use it to refinance the USDA loan you already have into a lower rate, on the owner-occupied primary residence you live in, in an eligible rural area.*
Why choose the Saxton USDA Streamlined-Assist Refinance?
Built for homeowners who already have a USDA loan.
Current USDA Borrowers
You must already have a USDA loan to use this refinance.*
Reduced Paperwork
A streamlined path with less documentation.
Only USDA Loans Qualify
The loan being refinanced has to be a USDA Section 502 direct or guarantee loan at one program*. USDA does not refinance FHA, VA or conventional loans into its program.
A Simpler Refinance
Far less paperwork than a standard refinance, with no cash back to you.
Rural Homeowners
Keep your USDA financing working for you.*
Assist Requires $50 Savings
On the streamlined-assist path, principal, interest and the annual fee together must drop by at least $50 compared with your current loan. The credit-qualifying streamlined path has no such test at one program*.
Hear From Homeowners Like You
Frequently Asked Questions
Answers on USDA streamline seasoning, credit, income and appraisal rules from the programs we use.
Saxton Mortgage offers both versions on a one-unit home you live in: the Streamlined Refinance, which is credit qualified, and the Streamlined-Assist Refinance, which is not credit qualified. In West Virginia, every loan must be credit qualified. No appraisal and no reserves are required. Non-occupant co-borrowers and nontraditional credit are not permitted.
A USDA streamline is for homeowners whose current USDA loan closed at least 180 days before USDA receives the request for a conditional commitment, with no late payment over 30 days in the last 180 days. You must still occupy the home and meet USDA household income limits.
A USDA streamline refinance is a USDA-to-USDA refinance with no appraisal, offered as a credit-qualifying streamlined refinance or a streamlined-assist, which does not calculate repayment income at one program*. Neither version allows cash out.
A USDA streamline pays off your current USDA loan and accrued interest plus the upfront guarantee fee, and the assist version may add closing costs plus prepaid taxes and insurance at one program*. It cannot put cash in your pocket.
At one program, the credit-qualifying USDA streamlined refinance starts at a 600 score, and the streamlined-assist starts at 640*. Another program accepts 580 on the assist path, rising to 620 on a manufactured home*. Learn more about manufactured home and Debt-to-income.
A USDA streamline skips the appraisal and starts from your existing loan, so one program caps the new amount at the original loan amount, though the guarantee fee can be financed on top*. A regular USDA refinance may instead roll customary closing costs and escrow funds into the payoff of a USDA loan.
Yes, a USDA streamline is fixed rate in the guides we work from, and temporary buydowns are not permitted. One program rules out ARMs, interest-only and balloon features*, and another will not let the new rate exceed the rate being refinanced*.
No, USDA does not offer cash-out refinancing, and a streamline loan amount stays limited to your payoff plus allowed costs. If you need equity out, we look at other loan types with you.
No, a USDA streamline refinance does not require an appraisal, and you show no reserves either. At one program, value is based on the original loan balance*. Assets for any cash due at closing still have to be documented there*.
Your current USDA loan must have closed at least 180 days before USDA receives the request for a conditional commitment. One program also wants a 12-month mortgage record showing no 30-day late during the last six months before application*.
With at least one program, your new interest rate cannot be higher than the rate on the USDA loan you are refinancing.
With at least one program, one-unit homes, PUDs, condominiums and single-wide or multi-wide manufactured homes qualify. You must live in the home.
Find out what you qualify for
Whether you’re lowering your rate or your payment, there’s likely a Saxton USDA Streamlined-Assist Refinance program that fits. Get a fast, no-obligation pre-qualification today.
Get Pre-Qualified*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. USDA Streamlined-Assist terms are set by the U.S. Department of Agriculture. Down payment and cash-out limits vary by occupancy, credit score, and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.