Can I Refinance my USDA RD Loan?

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Mortgage Banker with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

Can I Refinance my USDA RD Loan?   

The answer is YES!  You can Refinance your USDA Rural Development Loan into a lower rate and payment with our USDA Streamlined Refiinance Loan Program.   

We hear this question often:  “Can I Refinance my USDA Rural Development Loan?”  The answer is Yes, you can Refinance your Rural Housing Loan from USDA (both Guaranteed and Direct).  .  If your current Home Loan is a Guaranteed Rural Housing loan or a USDA Section 502 Direct loan, you can Refinance into a lower Interest Rate and Payment with our USDA Streamline Refinance Loans. 

WE allow you to refinance with or without an appraisal and with a new guarantee fee of only 1%.   More USDA refinance information is below.

Benefits and Requirements USDA Rural Housing Refinance:

  1. Current loan must be a USDA Loan
  2. The existing Loan must be a Guaranteed Rural Housing (GRH) or USDA Direct - Section 502 loan.  
  3. 30 Year Fixed rate Loans 
  4. We must lower your Interest Rate to qualify
  5. Owner Occupied,  primary residences only
  6. The USDA Guarantee fee is 1%
  7. Income limits still apply
  8. USDA Streamline Refinance loans are allowed for properties in areas that are no longer designated as USDA Rural Areas
  9. Escrows for Taxes and Homeowners Insurance are required
  • An Appraisal is required if the Refinance amount exceeds the Current Loan Amount plus the USDA Guarantee Fee.    Call us for details on how we can structure your loan to waive the appraisal - it can be done either way. 

The USDA 1% guarantee fee may be financed into your USDA GRH refinance. You can also finance the other closing costs and fees up to 100% of the current appraised value.   

Call the Government Loan Pros at VanDyk Mortgage to find out if you could benefit from a USDA Streamline Refinance - 760-752-4480 direct, or 866-900-2342 Toll Free.  You can also get started online at anytime at www.governmentloanpros.com.  

 

 

 

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Topic:
Mortgage / Finance
Tags:
temecula
fresno
riverside
san bernardino
ca
usda streamline
usda rural development
usda home loan
usda direct lender
usda

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Rainmaker
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Brian Skaar

VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
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Additional Information

The Government Loan Pro's Blog includes topics on Government backed Home Mortgage Loans and Lending, VA loans, VA Jumbo Loans, FHA Loans, USDA Loans, FHA Jumbo Loans, VA High Balance Loans, FHA 203Ks loans, Conventional Loans, Jumbo Loans, No monthly PMI Loans, Piggyback loans, 80/10/10 loans, Conforming High Balance Loans, how to use your VA Home Loan Benefit, San Diego, Los Angeles, SF Bay Area, Northern California and Southern California Home Loans, Seattle - Tacoma - Everett Area Home Loans, Virginia Loans, Wyoming Home Loans, Washington Loans, Georgia Home Loans, Massachusetts Home Loans, Wyoming Home Loans, and more. Visit us at vandykfunding.com for even more info or to get started. Or give us a call at 760-752-4480 direct. NMLS ID: 3035 - VanDyk Mortgage Corp NMLS ID 220268 Brian Skaar - Loan Originator http://www.nmlsconsumeraccess.org/

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