USDA Guaranteed Rural Housing Streamlined-Assist Refinance Option

The Streamlined-Assist Refinance Option is designed to assist existing Section 502 direct or guaranteed loan borrowers, to refinance their homes with greater speed and ease.

The Streamlined-Assist Refinance Option is available to borrowers in eligible states (see below) where steep home price declines, unemployment, and persistent poverty rates can make refinancing a current mortgage into more affordable terms. Borrowers in these states can now refinance their homes to secure lower interest rates and lower monthly payments without obtaining a new credit report, new appraisal (except to calculate subsidy recapture for refinancing a direct loan with a guaranteed loan), HUD Handbook minimum property determinations, or property inspections.

• Available through Brokered, Correspondent Table Funded, Correspondent Non-Delegated, and Correspondent Delegated channels
• Competitive 30 Year fixed interest rates
• Flexible credit guidelines

• Meet current household income eligibility requirements
• Reside in an eligible rural area that was eligible at the time of the original loan closing. See eligibility requirements.
• Note: If property shows “ineligible” the RD State Office must be contacted to confirm the property was eligible at the time of the original loan closing. See contact information.
• Have made timely mortgage payments for the 12-month period prior to the refinance