Refinance your USDA home loan with no appraisal, no termite inspection, and no water test — and roll your closing costs into the loan. The Streamlined-Assist option doesn’t even verify your income or credit. You could save hundreds a month and tens of thousands over the life of your loan.

About the USDA Refinance Program

The USDA loan program is unequaled in its flexibility to the borrower. There is no appraisal required for starters — and that’s huge for people who bought using the program when housing prices were still on the decline (or for borrowers who simply want certainty going into the refinance). Additionally, the program allows you to roll the closing costs of your new mortgage into the loan. There is no water test required or termite inspection. You could potentially save thousands by utilizing this program.

What most homeowners don’t realize is that USDA actually offers three different refinance pathways, each with different documentation and qualifying requirements. The right one for you depends on whether you can document income, what your credit looks like, and how much equity you’ve built up.

Three USDA Refinance Options Compared

Same underlying program, three different ways to refinance — pick the one that fits your situation:

Feature	Streamlined-Assist	Streamlined	Non-Streamlined
Appraisal Required?	No	No	Yes
Income Verification?	Not required	Required	Required (full)
Credit Underwriting?	None	Light review	Full review
DTI Calculation?	Not required	Required	Required
Min Payment History	12 months on-time	12 months on-time	None specific
Required Payment Reduction	$50/mo P&I+MI minimum	None specific	None
Roll Closing Costs Into Loan?	Yes	Yes	Yes
Eligible for Cash Out?	No	No	No (USDA refis are rate/term only)
Best For	Existing USDA borrowers cutting their rate fast	Existing USDA borrowers needing slight underwriting flex	Borrowers with major life changes or non-USDA loans converting in

Quick read: the Streamlined-Assist is what most current USDA borrowers should use — fastest, easiest, and the only one that requires no income or credit review. Streamlined adds light underwriting. Non-Streamlined is for unusual situations.

USDA Streamlined-Assist Refinance — The Flagship Option

The Streamlined-Assist refinance is what most existing USDA homeowners should be looking at first. It’s the closest thing in the mortgage industry to a “no questions asked” refinance — and it exists because USDA wants to keep its borrowers in the program when rates drop.

Here’s what the Streamlined-Assist does not require:

• No appraisal
• No income verification (no W-2s, pay stubs, or tax returns)
• No credit qualifying (your FICO doesn’t drive approval)
• No debt-to-income calculation
• No bank statements
• No new termite inspection or water test

What it does require:

• Existing USDA loan in good standing
• 12 months of on-time mortgage payments (no 30-day lates in the last year)
• The new loan must reduce your principal + interest + mortgage insurance payment by at least $50/month
• The home must remain your primary residence
• You must still meet USDA’s household income limits at the time of refinance

That last point is important — even the Streamlined-Assist doesn’t escape USDA’s income limits. Those limits apply at refinance just like they did at purchase. The good news is that the limits adjust upward over time, so if you were borderline at purchase, you may have more room now.

Florida USDA Refinance Income Limits

Income limits are still enforced just the same as when you bought your home — but the figures are updated by USDA each year. Current Florida USDA income limits for most counties are around $112,450 for 1-4 person households and approximately $148,450 for 5-8 person households. High-cost counties (parts of Miami-Dade, Broward, Monroe, and the Keys) have higher limits — often $130,000+ for 1-4 person households.

These limits change every year, and the figures vary by county. Call us if you’re close to these numbers or just over them — some deductions apply (childcare expenses, medical expenses for elderly/disabled household members, dependent deductions). USDA has zero flexibility on the income cap itself, but the deductions can sometimes bring you under. The same income rules apply for the USDA refinance program as for purchase.

Do I Still Need Good Credit?

For the Streamlined-Assist refinance, no — there’s no credit underwriting at all. You just can’t have any 30-day mortgage late payments within the past 12 months.

For the standard Streamlined refinance and the Non-Streamlined refinance, credit is reviewed but USDA is unusually flexible. We typically work with FICO scores down to 580, and sometimes lower with strong compensating factors. Your credit score will affect your interest rate even when it doesn’t affect approval. We can finance up to a 1% discount point to try and lower your rate as much as possible.

Closing Costs & Fees

Your closing costs will be typical of any refinance. The good news: these costs can be financed into your loan. In some cases we may also be able to grant a lender credit to reduce your loan amount. You will not need to come out of pocket one dime to get this refinance done in most scenarios.

It’s important to know that you will be charged another guarantee fee just like when you bought your home. Fortunately the USDA has lowered this to 1%, which is down from a historical 2.75%. Keep that in mind when calculating your savings — that 1% is added to your new loan balance.

USDA also has a monthly mortgage insurance with an annual factor of 0.35% based on the principal owed. This was implemented to further the longevity of the program — and it’s lower than FHA’s flat 0.85% MI. When using the USDA refinance program, factor that 0.35% MI into your savings analysis. Interest rates are currently low enough that even with the mortgage insurance, you could potentially save hundreds a month depending on what your current rate is. Over the life of your loan, this can add up to tens of thousands depending on how much you owe.

Real-World USDA Refinance Savings Example

Here’s what a USDA Streamlined-Assist refinance looks like on a $250,000 USDA loan when rates drop two percentage points:

Scenario	Current Loan	After Refinance
Loan Balance	$250,000	~$252,500 (closing costs rolled in)
Interest Rate	7.0%	5.0%
Principal & Interest	$1,663/mo	$1,355/mo
Monthly USDA MI (0.35%)	$73	$74
Total Monthly Payment	$1,736	$1,429
Monthly Savings	—	$307/mo
Annual Savings	—	$3,684/yr
5-Year Savings	—	$18,420
Cash Required at Closing	—	$0

Example only. Actual savings depend on your current rate, loan balance, and current market rates. Run your specific scenario with us — we’ll show you the exact savings before you commit.

How We Help With USDA Refinances

USDA Refinance FAQ

Get a Free USDA Refinance Review

Send us your current loan balance, current rate, and county. We’ll model out which of the three USDA refinance options fits your scenario, what your new payment would be, and how much you’d save — all with no obligation. Even if a refinance doesn’t make sense today, we’ll tell you when it will. On weekdays we review applications within 24 hours or less.