BOE Logo


We offer the USDA Pilot refinance loan which allows home owners to refinance their current USDA mortgage at a lower interest rate to reduce principle and interest payments.

The purpose of the USDA refinance program is to help homeowners take advantage of the historically low interest rates. There is no appraisal required, therefore no LTV requirements. This allows so anyone who meets basic program guidelines to qualify regardless of the amount of equity (or negative equity) they have in their home. There is also no DTI requirements, borrowers must simply be employed at the time of refinance or have alternative source of income such as: social security income, disability income, retirement income, alimony, or child support.

  • No appraisal necessary
  • No out-of-pocket costs (all closing costs rolled into new loan)
  • Must currently have a USDA direct or USDA Guarantee mortgage
  • No mortgage late payments in the last 12 months
  • 30 year fixed rate term only
  • We must be able to lower interest rate 1%+
  • Household income must not exceed the USDA household income limits

The USDA mortgage refinance is generally a streamlined process. Since you have already qualified and borrowed a 502 Direct or Guaranteed USDA Loan, some documentation and information would be redundant. The streamlined process will shorten the time necessary to close on your loan and will require you to provide less paperwork and fill out fewer forms.

USDA loans also require no property inspection, which will save you, on average, $400-$500. Speaking of money, closing costs can be rolled into the loan, which means that you can refinance your loan without having cash up front.

Please contact us today for a free loan proposal while the rates are low and before the program expires!