Every refinance option for a USDA home loan, compared
Refinancing a USDA home: the options
Compared
A USDA homeowner can refinance within the program in three ways, non-streamlined, streamlined or Streamlined-Assist, all aimed at a better rate or payment rather than cash. To take cash from equity or stop paying USDA's annual fee, the usual route is refinancing out of USDA into a conventional or FHA loan. The right choice depends on your goal and your equity.
Last reviewed against the primary sources listed below.
ToolOption sorterYour goal, your options.CompareSide by sideAll five routes.USDA 1Non-streamlinedFull review, new appraisal.USDA 2StreamlinedNo appraisal, full debt review.CashCash and USDAWhy there is no cash-out.ExitLeaving USDAConventional or FHA.CostGuarantee feesUpfront and annual.New guideChoosing a lenderHow to find lenders that offer USDA refinance options and what to ask .New guideDocumentsThe paperwork commonly needed for USDA refinance options.GlossaryKey termsPlain definitions with sources.GuideDirect loansHow refinance options differ for direct loan borrowers.GuideLife changesHow a change in household affects USDA refinance options.PrintableLender questionsQuestions to bring to any lender, ready to print.
Independent, not official
This is not a government website. USDA's program page and state offices can answer program questions.