Did you purchase your home with a zero down USDA loan? If so we have good news for you.
The USDA has recently added a Rate Reduction Streamline Refinance to their Single Family Guarantee Program.
These are the particulars:
- No appraisal required
- No affordability calculations
- Roll all closing costs into your loan
- Minimal documentation
Your family income cannot exceed current USDA maximums. For example, the maximum income in San Diego County for a 1-4 family household is $100,500. Maximum income limits increase for larger households. If you are a homeowner with a USDA loan, call us to talk about lowering your payment!