Is a USDA Streamline Refinance right for you?
Home owners that currently have a Guaranteed USDA home loan are eligible to refinance their home with a USDA Streamline Refinance. The USDA streamline allows the home owner to lower their interest rate and monthly payment with very little cost to the borrower. Utilize our custom Rate Watch Program to let us keep an eye on the rates and let you know when to refinance. Below are some of the benefits of USDA Streamline Refinancing.
Benefits of the USDA Streamline Refinance
- No Appraisal is Required
- Zero Closing Cost Options
- Skip a monthly payment
- Lower your monthly Payment
- Lower the interest rate
Requirements of the USDA Streamline Refinance
- >= 620 Credit score
- Stay with in the income limits per county (See Income Limits)
- Keep the loan balance the same as the current loan balance
- Stay with in the required Debit to Income Limits set by USDA’s Guidelines
- Lower your interest rate by at least 1%
USDA Streamline Refinance Pilot Program
USDA recently started the Pilot Refinance program that allows USDA home owners to refinance with minimal documentation and allow for the homeowner to finance in their closing costs. This is a special refinance program for specific states. California is one of the states that USDA Pilot Program is participating in. For more information about the Pilot program please give us a call.
"We knew that we were not going to be able to afford our 4 point interest rate hike. That’s when we called Megastar Financial and they were able to get us a 30 year fixed rate from the Government Assisted Program. Thanks so much!"
We'd be more than happy to watch your rate for you.
Would you like Pete to watch your Interest Rate for you? Give us some basic information on your loan and Pete will contact you when he can lower your interest rate and lower your monthly payment.