USDA Streamlined-Assist
USDA loan dashboardA USDA-to-USDA refinance with no appraisal, credit report or debt ratios. The monthly payment has to drop by at least $50, at a rate no higher than yours.
How this tool works
The loan amount. The new loan can be the principal balance plus the interest due, reasonable closing costs and the 1% upfront guarantee fee. The annual fee is 0.35% a year. The new loan is a 30-year fixed rate.
The rate. The new rate must be fixed and no higher than your current rate, and the home must still be your principal residence. The tool asks your current rate and flags a new one above it.
The benefit test. Principal, interest and the annual fee together must drop by $50 or more a month. Taxes and insurance stay the same, so they are left out.
Who qualifies. The current USDA loan closed at least 180 days ago, with no payment more than 30 days late in the last 180 days, and household income within USDA's limit. No appraisal is needed for a guaranteed loan.
Sources: 7 CFR 3555.101, USDA HB-1-3555, Chapter 6, USDA fees for fiscal year 2027.
Loans it explains
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