Program highlights.
- No DTI qualification
- Credit history not considered beyond a 12-month housing rating
- Closing costs may be financed
- A $50 payment reduction meets the net tangible benefit
Key figures.
- Score from
- 620
- Streamline Assist refinance, primary residence
- LTV
- Not applicable
- Loans to
- Existing balance plus eligible costs
Limits by transaction.
Score · LTV · Loan in each cell, with the tier each needs beneath.
| Transaction | Primary residence |
|---|---|
| Streamline Assist refinance | 620+ scoreNot applicable LTVloans to Existing balance plus eligible costs |
What to know.
- Minimum FICO
- 620Borrower and credit eligibility requirements still apply.
- Minimum loan
- $75KMaximum loan amount follows the program’s refinance calculation.
- Seasoning
- 12 monthsThe existing loan must have closed at least 12 months before application, with satisfactory mortgage history.
- Payment benefit
- At least $50Compare principal, interest and annual fee under the net tangible benefit test.
- Occupancy
- Primary residenceExisting USDA Guaranteed mortgage and applicable location / household-income eligibility required.
- Terms
- 30-year fixedSubordinate financing is not permitted.
Documents.
Other programs.
Compare with
- GovernmentUSDAHomes in USDA-eligible locations for income-eligible households
- Score
- 620+
- LTV
- 100%
- Loan
- By income eligibility
- GovernmentFHA StreamlineRefinance options for existing FHA borrowers
- Score
- 580+
- LTV
- Per FHA calculation
- Loan
- Per FHA calculation
- Conventional programsStart with the right agency and borrower path. Explore standard conventional financing alongside dedicated affordable-lending options.
Questions brokers ask.
Can any USDA borrower use this refinance?
Confirm the existing USDA Guaranteed mortgage, seasoning, household eligibility and payment benefit. An existing loan alone does not establish eligibility.
What fees are included in the payment comparison?
The benefit test compares principal, interest and the annual fee on the existing and proposed mortgages. Review the full refinance calculation with your AE.
Your next borrower. Our next conversation.
Bring us your next USDA Streamline Assist loan.
Send the scenario, ask JMAC a question, or get set up with your lending team.