Lower the payment on your rural home with a USDA refinance.
Streamline your USDA refinance- Lower your monthly payment
- Close in as little as 30 days
Why choose AmeriSave for a USDA refinance?
See If You’re Eligible
We’ll help you see if your payment history qualifies you for a refinance.
Lock Your Rate
Secure your lower interest rate and see how much you can save.
Online Loan Process
Apply for a streamline online to save time and get financed quickly.
Trusted Expertise
Over 730K clients. 23 years’ experience. One goal: helping you build a brighter future.
Smarter technology. Real numbers.
Get Personalized Loan OptionsSee your best loan options with technology that analyzes your finances in real time.
Flexible Loans And TermsPick the right loan and term that helps you achieve your unique homeownership goals.
Close Your Loan QuicklyGet approved and funded quickly, so you can enjoy your new financial freedom.
Get Personalized Loan Options
See your best loan options with technology that analyzes your finances in real time.
Flexible Loans And Terms
Pick the right loan and term that helps you achieve your unique homeownership goals.
Close Your Loan Quickly
Get approved and funded quickly, so you can enjoy your new financial freedom.
Refinance your USDA loan with minimal paperwork.
USDA offers two refinance paths for existing USDA borrowers; Streamlined Assist for speed, Standard for flexibility.
Confirm You Have A USDA Loan
USDA refinances are only available to existing USDA borrowers in good standing for at least the past 12 months.
Get Your New USDA Rate
The new loan stays USDA-backed, preserving the program's lower mortgage insurance premium (MIP) cost. Apply online for your personalized refinance options.
Close Fast (Streamlined Assist)
Streamlined Assist requires no appraisal and minimal documentation, allowing many borrowers to close in 2 to 3 weeks.
Enjoy Your New Lower Payment
Streamlined Assist requires at least $50 per month in savings after fees, so you'll see a real payment reduction.
Roll your closing costs into the loan.
USDA allows you to roll your closing costs into the new loan when the appraised value supports it, meaning true zero-out-of-pocket refinancing for many qualifying borrowers.
When A USDA Refinance Makes Sense
USDA refinance options are narrower than conventional or FHA; but for the right borrower, the savings can be meaningful and the process simple.
Lower Your USDA Loan Rate
If rates have dropped since you closed, the Streamlined Assist refinance captures the savings with minimal hassle and no appraisal.
Reduce Your Monthly Payment
Even without changing your rate dramatically, refinancing can reset your term and lower your payment; useful when monthly cash flow matters most.
Skip The Appraisal Stress
If your home value is uncertain or you'd rather not pay for an appraisal, the Streamlined Assist path avoids both.
Move From A Higher-Cost USDA Loan
USDA borrowers who closed when rates were higher can refinance into today's pricing while keeping the program's low MIP cost advantages.
USDA Refinance Requirements
USDA refinance underwriting depends on the path you choose; Streamlined Assist is the lightest touch in the mortgage industry.
Current USDA loan with at least twelve months of on-time payments. No late payments in the past six months on most programs.
Household income at the time of refinance must still be within the program's income limits; even if it was when you originally bought.
Home must remain your primary residence. The borrower(s) on the new loan must be on the existing loan, or qualify for an assumption.
Streamlined Assist requires at least $50 per month in payment savings after fees. The Standard path uses a broader net tangible benefit test.
USDA Streamlined Assist vs. USDA Standard refinance
USDA offers two refinance paths for existing USDA borrowers; one prioritizes simplicity, the other allows more flexibility on terms.
Pros And Cons of A USDA Refinance
USDA refinances keep the same low-cost program structure; but they're only available to existing USDA borrowers, and the term flexibility is limited.
What Works In Your Favor
Streamlined Process For Most Borrowers
The Streamlined Assist path requires limited documentation, no appraisal in most cases, and minimal credit review.
Keep USDA's Lower MIP Cost
USDA's guarantee fee and annual fee are lower than FHA MIP. A USDA refinance preserves that cost advantage.
Below-Market Rates Available
Because the loan stays USDA-backed, you continue to access government-supported pricing that often beats conventional refinances.
Closing Costs Can Roll Into The Loan
USDA allows financing the closing costs into the new loan when the appraised value supports it; true zero out of pocket.
Same Income Flexibility
USDA's underwriting tolerance for modest-income borrowers carries over to the refinance, which helps when other programs would say no.
What To Weigh Carefully
Only Existing USDA Borrowers Qualify
If your current mortgage is conventional or FHA, USDA refinance is not an option; you'd need a brand-new USDA purchase scenario.
Property Must Still Be Owner-Occupied
Investment properties and second homes don't qualify. The home must remain your primary residence.
Limited Term Flexibility
Most USDA refinances are 30-year fixed only. Borrowers wanting a 15-year term may need to look at conventional alternatives.
Required Payment Savings On Streamline
Streamlined Assist requires at least $50 per month in savings after fees. Borrowers with very small rate improvements won't qualify.
Guarantee Fees Still Apply
Both the upfront guarantee fee and the annual fee continue on the new loan; though they're lower than FHA's MIP.
Frequently Asked Questions
A USDA refinance replaces an old USDA-backed mortgage with a new USDA loan. This is usually done to get a lower interest rate, lower monthly payments, or change the loan term for homeowners in eligible rural and suburban areas. Continue Reading...
To qualify for a USDA refinance, your current loan must be a USDA-guaranteed home loan that you’ve had for at least 12 months, and you must be current on your payments. The USDA requires a refinanced loan to have a financial benefit that lowers your monthly mortgage payment by at least $50. Your income must still be within the allowable limit for your area. If your property is in a rural area that is no longer eligible for the USDA loan program, it is still eligible for USDA refinancing.
An AmeriSave Loan Expert can help you review your qualifications, including checking your credit score to help determine your low, customized rate. We’ll guide you in collecting any necessary documentation, such as previous mortgage statements.